Currency snapshot (major pairs)

Dollar index trading at 89.51 (-0.13%)

Strength meter (today so far) – Euro +0.14%, Franc -0.11%, Yen +0.27%, GBP +0.29%

Strength meter (since last week) – Euro +0.81%, Franc +0.13%, Yen +0.07%, GBP +0.85%

EUR/USD –

Trading at 1.238

Trend meter –

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

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 is rising sharply as the dollar declines amid geopolitical tensions.

GBP/USD –

Trading at 1.42

Trend meter –

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

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 –

• Industrial production up 2.2 percent y/y in February.
• Manufacturing production up 2.5 percent y/y in February.

Commentary –

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

USD/JPY –           

Trading at 106.8

Trend meter -

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

Support –

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

Resistance –

• Long term – 111, Medium term – 109, Short term – 107 (testing)

Economic release today –

• NIL

Commentary –

• The yen is the worst performer of the week despite a weaker dollar as risk aversion fades after China signaled a concession for U.S. trade dispute. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.957

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 – 0.98

Economic release today –

• NIL

Commentary –

• Franc is a much worse performer than the euro this week.

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