• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 22 Mar 2018 06:08:57   Eastern Standard Time

    Dollar index trading at 89.57 (-0.14%)

    Strength meter (today so far) – Euro +0.36%, Franc +0.05%, Yen +0.27%, GBP +0.11%

    Strength meter (since last week) – Euro +0.36%, Franc +0.32%, Yen +0.29%, GBP +1.59%

    EUR/USD –

    Trading at 1.233

    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 –

    • January current account balance came at €37.6 billion.

    Commentary –

    • The euro recovered from earlier loss and now up for the week so far.

    GBP/USD –

    Trading at 1.416

    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 –

    • Retail sales grew 1.5 percent y/y in February. Core retail sales up 1.1 percent y/y.
    • BoE will announce interest rate decision at 12:00 GMT.

    Commentary –

    • The pound is the best performer of the week in the 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 105.7

    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 –

    • Inflation reports will be released at 23:30 GMT.

    Commentary –

    • The yen recovered from earlier loss thanks to a weaker dollar. Active call – Buy yen targeting 101

    USD/CHF –

    Trading at 0.948

    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 up in line with the euro this week.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest