 - EconoTimes)
Dollar index trading at 100.66 (+0.17%)
Strength meter (today so far) – Euro -0.14%, Franc -0.02%, Yen +0.08%, GBP -0.31%
Strength meter (since last week) – Euro +0.12%, Franc -0.09%, Yen -0.16%, GBP -0.33%
EUR/USD –
Trading at 1.065
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support
- Long term – 1.032, Medium term – 1.05, Short term – 1.06
Resistance –
- Long term – 1.09, Medium term – 1.085, Short term – 1.085
Economic release today –
- In February retail sales edged up by 0.8 percent, up 1.7 percent from a year ago.
Commentary –
- The euro is hovering around 1.07 area as French election uncertainty weighs.
GBP/USD –
Trading at 1.245
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – range/sell
Support –
- Long term – 1.16, Medium term – 1.2, Short term – 1.2
Resistance –
- Long term – 1.32, Medium term – 1.27, Short term – 1.27
Economic release today –
- BRC shop price inflation report will be published at 23:00 GMT.
Commentary –
- Gibraltar jitters and EU hardline pushed the pound lower to become the worst performer of the week so far. We expect the pound to reach parity in the longer run.
USD/JPY –
Trading at 110.6
Trend meter –
- Long term – Sell, Medium term – Range/ Buy, Short term – Range/Buy
Support –
- Long term – 107, Medium term – 109, Short term – 109
Resistance –
- Long term – 121, Medium term – 119, Short term – 115
Economic release today –
- NIL
Commentary –
- The yen is likely to test the 110 resistance again. Risk aversion has pushed the yen to become the best performer of the week so far.
USD/CHF –
Trading at 1.002
Trend meter –
- Long term – Buy, Medium term – Range/Buy, Short term – Range
Support –
- Long term – 0.95, Medium term – 0.95, Short term – 0.98
Resistance –
- Long term – 1.08, Medium term – 1.037, Short term – 1.037
Economic release today –
- NIL
Commentary –
- Franc is marginally higher this week. Likely to consolidate around parity. Active call -Franc might decline to 1.08 per dollar. Target extended to 1.14
