• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 21 Mar 2018 06:37:10   Eastern Standard Time

    Dollar index trading at 90.16 (-0.29%)

    Strength meter (today so far) – Euro +0.26%, Franc +0.24%, Yen +0.17%, GBP +0.45%

    Strength meter (since last week) – Euro -0.05%, Franc -0.25%, Yen -0.29%, GBP +1.00%

    EUR/USD –

    Trading at 1.228

    Trend meter –

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

    Support          

    • Long term – 1.18, Medium term – 1.2, Short term – 1.22

    Resistance –

    • Long term – 1.25, Medium term – 1.25, Short term – 1.25

    Economic release today –

    • NIL

    Commentary –

    • The euro is down against the dollar heading to FOMC meeting.

    GBP/USD –

    Trading at 1.407

    Trend meter –

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

    Support –

    • Long term – 1.35, Medium term – 1.385, Short term – 1.385

    Resistance –

    • Long term – 1.50 Medium term – 1.485, Short term – 1.435

    Economic release today –

    • Unemployment rate for January declined from 4.4 percent to 4.3 percent.
    • Average earnings grew by 2.6 percent excluding bonus and by 2.8 percent including it.

    Commentary –

    • The pound is the best performer of the week on hope of an agreement with EU and as unemployment report was better than anticipated. Active call-  short-term sell targeting 1.375 (target reached); extended to 1.354

    USD/JPY –           

    Trading at 106.3

    Trend meter -

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

    Support –

    • Long term – 101, Medium term – 104.2, Short term – 106 (testing)

    Resistance –

    • Long term – 112, Medium term – 110, Short term – 109

    Economic release today –

    • NIL

    Commentary –

    • The yen is down this week over a stronger dollar and as equities recover. Active call – Buy yen targeting 101

    USD/CHF –

    Trading at 0.953

    Trend meter –

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

    Support –

    • Long term – 0.90, Medium term – 0.92, Short term – 0.92

    Resistance –

    • Long term – 1.03, Medium term – 0.98, Short term – 0.95 (testing)

    Economic release today –

    • SNB will release quarterly bulletin at 14:00 GMT.

    Commentary –

    • Franc is a slightly worse performer than the euro this week.

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