Dollar index trading at 93.10 (-0.16%)
Strength meter (today so far) – Euro +0.26%, Franc +0.13%, Yen +0.05%, GBP -0.03%
Strength meter (since last week) – Euro +0.51%, Franc +0.70%, Yen +0.73%, GBP +0.80%
EUR/USD –
Trading at 1.184
Trend meter –
- Long term – Buy, Medium term – Buy, Short term – Sell
Support
- Long term – 1.14, Medium term – 1.16, Short term – 1.16
Resistance –
- Long term – 1.22, Medium term – 1.22, Short term – 1.2
Economic release today –
- Flash manufacturing PMI rose to 60 in November and services PMI improves to 56.2
Commentary –
- The euro is under pressure this week as German coalition talks fail but recovered to positive territory as the dollar weakened after Fed minutes. Active call – Sell targeting 1.14
GBP/USD –
Trading at 1.331
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Buy
Support –
- Long term – 1.28, Medium term – 1.295, Short term – 1.313 (testing)
Resistance –
- Long term – 1.38 Medium term – 1.36, Short term – 1.36
Economic release today –
- Third quarter GDP up 0.4 percent q/q, up 1.5 percent from a week ago.
Commentary –
- The pound is the best performer of the week.
USD/JPY –
Trading at 111.2
Trend meter –
- Long term – Sell, Medium term – sell, Short term – Range/Sell
Support –
- Long term – 107, Medium term – 108.4, Short term – 108.4
Resistance –
- Long term – 116, Medium term – 114.2, Short term – 114.2
Economic release today –
- NIL
Commentary –
- The yen is covered earlier loss, now, up for the week. Active call – Buy yen targeting 101
USD/CHF –
Trading at 0.981
Trend meter –
- Long term – Buy, Medium term – Range/sell, Short term – Range/Sell
Support –
- Long term – 0.90, Medium term – 0.92, Short term – 0.95
Resistance –
- Long term – 1.04, Medium term – 1.01, Short term – 1.00
Economic release today –
- SNB chairman set for a speech at 16:30 GMT.
Commentary –
- Franc is a marginally better performer than the euro this week. Active call – Buy pair targeting 1.02
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest