Dollar index trading at 93.72 (+0.21%)
Strength meter (today so far) – Euro -0.16%, Franc -0.36%, Yen -0.40%, GBP -0.46%
Strength meter (since last week) – Euro -0.84%, Franc -1.76%, Yen -0.61%, GBP -1.07%
EUR/USD –
Trading at 1.179
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 –
- Third quarter GDP rose 0.6 percent, up 2.6 percent from a year ago.
Commentary –
- The euro is down this week as the dollar recovers on tax proposal clearing Senate hurdle and Brexit uncertainties. Active call – Sell targeting 1.14
GBP/USD –
Trading at 1.334
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Buy
Support –
- Long term – 1.28, Medium term – 1.295, Short term – 1.32
Resistance –
- Long term – 1.38 Medium term – 1.36, Short term – 1.35
Economic release today –
- Halifax house price index up 0.5 percent in November, up 3.9 percent from a year ago.
Commentary –
- The pound is down against the dollar over Irish border dispute stalling Brexit talks.
USD/JPY –
Trading at 112.7
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 –
- Third quarter GDP data will be released at 23:50 GMT, along with October trade balance report.
Commentary –
- The yen is down this week as the dollar and equities rise, however, recovered some of the losses as U.S. government shutdown looms ahead. Active call – Buy yen targeting 101
USD/CHF –
Trading at 0.993
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 –
- Unemployment rate declines to 3 percent in November.
- Forex reserve marginally declines to 738 billion in October.
Commentary –
- Franc is the worst performer this week. Active call – Buy pair targeting 1.02
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