Currency snapshot (major pairs)

Dollar index trading at 91.14 (+0.38%)

Strength meter (today so far) – Euro -0.52%, Franc -0.57%, Yen -0.45%, GBP -0.48%

Strength meter (since last week) – Euro -0.90%, Franc -1.06%, Yen -1.53%, GBP -0.46%

EUR/USD –

Trading at 1.217

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 declining sharply as dollar recovers riding on higher interest rates.

GBP/USD –

Trading at 1.393

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 –

• NIL

Commentary –

• The pound is the best performer so far but down against the dollar. Active call-  short term sell targeting 1.375 (target reached); extended to 1.354

USD/JPY –           

Trading at 109.3

Trend meter -

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

Support –

• Long term – 101, Medium term – 104.2, Short term – 106.2

Resistance –

• Long term – 111, Medium term – 109, Short term – 109

Economic release today –

• All industry activity index rose 0.4 percent in February.

Commentary –

• The yen is the worst performer of the week. Extended loss while other pairs trimmed. Active call – Buy yen targeting 101

USD/CHF –                          Trading at 0.984

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 –

• ZEW survey expectation index declined to 7.2 in April.

Commentary –

• Franc is down in line with the euro this week.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest