Currency snapshot (major pairs)

Dollar index trading at 96.24 (+0.18%)

Strength meter (today so far) – Euro +0.10%, Franc -0.01%, Yen -0.41%, GBP +0.38%

Strength meter (since last week) – Euro +0.10%, Franc -0.01%, Yen -0.41%, GBP +0.38%

EUR/USD –

Trading at 1.117

Trend meter –

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

Support

• Long term – 1.048, Medium term – 1.07, Short term – 1.108

Resistance –

• Long term – 1.15, Medium term – 1.137, Short term – 1.137

Economic release today –

• NIL

Commentary –

• Euro trading in thin range today as most European markets closed over Easter. Our longer term target for Euro to reach as high as 1.20 against Dollar. However in the short run it might find resistance around 1.143 area.

GBP/USD –

Trading at 1.418

Trend meter –

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

Support –

• Long term – 1.35, Medium term – 1.38, Short term – 1.406          

Resistance –

• Long term – 1.463, Medium term – 1.45, Short term – 1.43

Economic release today –

• NIL

Commentary –

• Pound snapping some of its last week’s loss but trading is thin due to Easter Monday. We still expects pound to grow stronger going ahead. Likely to gain towards 1.5 area.

USD/JPY –                      

Trading at 113.4

Trend meter –

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

Support –

• Long term – 98.5, Medium term – 108, Short term – 110

Resistance –

• Long term – 121, Medium term – 117, Short term – 115

Economic release today –

• February employment report will be released at 23:30 GMT, along with household consumption report.
• Retail trade details will be released at 23:50 GMT.

Commentary –

• Yen is worst performer today as equities rise.. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5

USD/CHF –                                                                                         

Trading at 0.976

Trend meter –

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

Support –

• Long term – 0.905, Medium term – 0.945, Short term – 0.96

Resistance –

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

Economic release today –

• NIL

Commentary –

• We expect Franc to strengthen against Dollar to as high as 0.9 area.