Currency snapshot (major pairs)

Dollar index trading at 90.15 (+0.04%)

Strength meter (today so far) – Euro -0.07%, Franc +0.06%, Yen +0.18%, GBP +0.30%

Strength meter (since last week) – Euro -0.07%, Franc +0.06%, Yen +0.18%, GBP +0.30%

EUR/USD –

Trading at 1.229

Trend meter –

• Long term – Buy, Medium term – Buy, Short term – Buy

Support          

• Long term – 1.18, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.25, Medium term – 1.25, Short term – 1.25

Economic release today –

• NIL

Commentary –

• The euro started the week on a back foot.

GBP/USD –

Trading at 1.388

Trend meter –

• Long term – Sell, Medium term – Buy, Short term – Buy

Support –

• Long term – 1.35, Medium term – 1.385, Short term – 1.385

Resistance –

• Long term – 1.50 Medium term – 1.485, Short term – 1.435

Economic release today –

• NIL

Commentary –

• The pound is the best performer the day. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 106.6

Trend meter -

• Long term – Sell, Medium term – sell, Short term – Range/Sell

Support –

• Long term – 101, Medium term – 104.2, Short term – 106

Resistance –

• Long term – 112, Medium term – 110, Short term – 109

Economic release today –

• Machine tools orders up 39.5 percent y/y in February.

Commentary –

• The yen is higher today thanks to a weaker dollar. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.95

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Sell

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

• Long term – 1.03, Medium term – 0.98, Short term – 0.95

Economic release today –

• NIL

Commentary –

• Franc is slightly better performer than the euro today.

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