Currency snapshot (major pairs)

Dollar index trading at 95 (-0.11%).

Strength meter (today so far) - Euro +0.02%, Franc +0.77%, Yen +0.20%, GBP +0.20%

Strength meter (since last week) - Euro +1.31%, Franc +1.36%, Yen +1.80%, GBP +2.00%

EUR/USD -

Trading at 1.126

Trend meter -

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

Support -

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.106, Immediate - 1.118-1.115

Resistance -

• Long term - 1.175-1.18, Medium term - 1.155-1.16, Short term - 1.14-1.145, Immediate - 1.135-1.138

Economic release today -

• NIL

Commentary -

• Euro dropped sharply against dollar to 1.115 as German chancellor Merkel commented against stronger Euro, however recovered and turned positive against dollar for the day.

GBP/USD -

Trading at 1.556

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.525-1.528

Resistance -

• Long term - 1.592-1.616, Medium term - 1.58-1.586, Short term - 1.566-1.57,

Economic release today -

• NIL

Commentary -

• Pound is the top performer this week gained further against dollar. Further upside seems likely.

USD/JPY -                      

Trading at 123.3

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119, Immediate - 122.2-122.6

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 127.5. Immediate - 123.6-124

Economic release today -

• NIL

Commentary -

• Yen gained from support area of 123.7 as dollar weakened against major counterparts. Yen might gain against dollar in the short term, despite being sell against it.

USD/CHF -

Trading at 0.927

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.917-0.913, Short term - 0.90, Immediate - 0.925

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987

Economic release today -

• NIL

Commentary -

• The pair has come back to the support area and franc might gain further against dollar. However gains could be limited among support area.