Currency snapshot (major pairs)

Dollar index trading at 89.92 (+0.45%)

Strength meter (today so far) – Euro -0.51%, Franc -0.67%, Yen -0.55%, GBP +0.03%

Strength meter (since last week) – Euro +0.22%, Franc -0.54%, Yen -0.47%, GBP +0.77%

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 –

• Industrial production down 0.8 percent in February, up 2.9 percent from a year ago.

Commentary –

• The euro declined after FOMC minutes indicated faster rate hikes.

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 –

• BoE’s Governor Carney is scheduled to speak at 19:00 GMT.

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 down this week despite a weaker dollar as risk aversion fades after China signaled a concession for U.S. trade dispute and geopolitical tensions over Syria ease. 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 the worst performer this week.

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