Currency snapshot (major pairs)

Dollar index trading at 93.78 (-0.14%)

Strength meter (today so far) – Euro +0.20%, Franc +0.12%, Yen +0.04%, GBP -0.03%

Strength meter (since last week) – Euro +0.20%, Franc +0.12%, Yen +0.04%, GBP -0.03%

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 –

• NIL

Commentary –

• The euro is up today as dollar retraces last week’s gain. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.337

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 –

• Right move house price index up 1.2 percent in December, down 2.6 percent from a year ago.    

Commentary –

• The pound is the worst performer of the day. Focus is on upcoming EU meeting and BoE monetary policy.

USD/JPY –           

Trading at 113.3

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 –

• Domestic corporate goods price index will be updated at 23:50 GMT.

Commentary –

• The yen is marginally higher today. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.99

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 –

• NIL

Commentary –

• Franc is the up in line with the euro. Active call – Buy pair targeting 1.02

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