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Currency snapshot (major pairs)

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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July 17 13:15 UTC Released

USManuf Output MM

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0.8 %

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July 17 13:15 UTC Released

USCapacity Utilization MM

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78 %

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January 22 19:00 UTC 253120253120m

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January 22 19:00 UTC 253120253120m

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January 31 00:00 UTC 241300241300m

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January 31 00:00 UTC 241300241300m

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