Currency snapshot (major pairs)

Dollar index trading at 98.88 (-0.15%).

Strength meter (today so far) - Euro +0.24%, Franc +0.13%, Yen +0.03%, GBP -0.08%

Strength meter (since last week) - Euro +0.99%, Franc -0.02%, Yen +0.35%, GBP +0.54%

EUR/USD -

Trading at 1.091

Trend meter -

• Long term - Sell, Medium term - Range/Buy, Short term - Range/Sell

Support

• Long term - 1.048, Medium term - 1.048, Short term - 1.06

Resistance -

• Long term - 1.145, Medium term - 1.104, Short term - 1.1

Economic release today -

• NIL

Commentary -

• Euro is best performer today and this week. Active Call - Buy Euro @1.06 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.435

Trend meter -

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

Support -

• Long term - 1.425, Medium term - 1.445, Short term - 1.445

Resistance -

• Long term - 1.52, Medium term - 1.5, Short term - 1.482

Economic release today -

• Nationwide house prices rose 0.3% in January reading, up 4.4% from a year ago.

Commentary -

• Pound is finding support bids around 5 year low. Downside target reached for Pound

USD/JPY -                      

Trading at 118.4

Trend meter -

• Long term - Sell, Medium term - Range/ Sell, Short term - Sell

Support -

• Long term - 115.5-116.5, Medium term - 116.5, Short term - 116.5

Resistance -

• Long term - 123.8, Medium term - 123.8, Short term - 119.5

Economic release today -

• NIL

Commentary -

• Yen is flat but lost charm as equities consolidate. Active call - Sell Yen @119.5 with stop loss around 123.8 and target at 114 and 110.

USD/CHF -                                                                                         

Trading at 1.014

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Sell

Support -

• Long term - 0.905, Medium term - 0.945, Short term - 1.01

Resistance -

• Long term - 1.174, Medium term - 1.07, Short term - 1.035

Economic release today -

• UBS consumption indicator rose to 1.62 from 1.55

Commentary -

• Franc is worst performer this week. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.