Currency Snapshot (major Pairs)

Dollar index trading at 97.45 (-0.68%).

Strength meter (today so far) – Euro +0.96%, Franc +0.78%, Yen -0.15%, GBP -0.05%

Strength meter (since last week) – Euro -0.10%, Franc +0.13%, Yen -0.62%, GBP -0.23%

EUR/USD –

Trading at 1.087

Trend meter –

  • Long term – Sell, Medium term – Sell, Short term – Range/Buy support/Sell resistance

Support –

  • Long term – 1.048-1.036, Medium term – 1.065-1.06, Short term – 1.07-1.073

Resistance –

  • Long term – 1.1035-1.11, Medium term – 1.102-1.11, Short term – 1.102-1.105, Immediate – 1.09-1.093

Economic release today –

  • NIL

Commentary –

  • Euro is best performer after successfully bouncing back from 1.07 area.
  • Investors seem to be reducing dollar longs ahead of Easter holiday tomorrow across Europe and Non-farm payroll from US.
  • Facing some resistance around 1.09 level.

GBP/USD –

Trading at 1.482

Trend meter –

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

Support –

  • Long term – 1.425-1.417, Medium term – 1.462-1.455, Short term – 1.475-1.472

Resistance –

  • Long term – 1.553-1.56, Medium term – 1.516-1.52, Short term – 1.498-1.502, Immediate – 1.485-1.487

Economic release today –

  • Construction PMI fell to 57.8 from prior 60.1

Commentary –

  • Pound is the worst performer today. It clearly struggling to break above 1.485 area.

USD/JPY –

Trading at 119.8

Trend meter –

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

Support –

  • Long term – 113.7-112.9, Medium term – 115.7-115, Short term – 118.2-118

Resistance –

  • Long term – 125, Medium term – 122, Short term – 122, Immediate – 119.8-120.3

Economic release today –

  • NIL

Commentary –

  • Yen is worst performer this week. Risk aversion over Saudi Attack failed to gain momentum.
  • Yen is trading in narrow range of 119.5 and 119.9 today.

USD/CHF –

Trading at 0.959

Trend meter –

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

Support –

  • Long term – 0.88, Medium term – 0.937, Short term – 0.945, Immediate – 0.954-0.95

Resistance –

  • Long term – 1.174, Medium term – 1.025-1.02, Short term – 0.997, Immediate – 0.972-0.975

Economic release today –

  • NIL

Commentary –

  • Franc is the best performer so far this week. Pair is facing both heavy buying and selling at levels. A close below 0.952 might break the bulls.
  • Bulls are facing resistance around 0.972 area.

                             

 

The material has been provided by InstaForex Company – www.instaforex.com

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