Currency snapshot (major pairs)

Dollar index trading at 92.90 (-2%).

Strength meter (today so far) - Euro +2.4%, Franc +1.23%, Yen +1.2%, GBP +0.43%

Strength meter (since last week) - Euro +2.4%, Franc +1.23%, Yen +1.2%, GBP +0.43%

EUR/USD 

Trading at 1.16

Trend meter 

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

Support

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.08-1.085

Resistance 

• Long term - 1.175-1.18, Medium term - 1.155-1.16(broken), Short term - 1.14-1.145(broken), Immediate - 1.125-1.132(broken)

Economic release today

• NIL

Commentary 

• Global selloffs in equities pushed Euro sharply higher. Euro traded as high as 1.172 against Dollar, down from there as equity selloffs recovered.

GBP/USD 

Trading at 1.575

Trend meter 

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

Support 

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512, Immediate - 1.544-1.54

Resistance 

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.572(broken)

Economic release today 

• NIL

Commentary 

• Pound has broken above its recent congestion due to weakness in Dollar. Active call - Buy Pound against Dollar, targeting 1.595 area and 1.609 area with stop loss around 1.54 and 1.53 area.

USD/JPY               

Trading at 118.4

Trend meter -

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

Support 

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 119.7(broken), Immediate - 120.7(broken)

Resistance 

• Long term - 130, Medium term - 127.5, Short term - 127.5.

Economic release today 

• NIL

Commentary 

• Yen is the best performer today as massive selloffs hit global markets. Yen traded 116 against Dollar, but recovered close to 119 as equities recovered.

USD/CHF 

Trading at 0.934

Trend meter 

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

Support 

• Long term - 0.88, Medium term - 0.90, Short term - 0.95(broken)

Resistance 

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

Economic release today 

• NIL

Commentary 

• Franc is doing well, driven by weak dollar and haven buying. Target reached at 0.93