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Currency snapshot (major pairs)

Dollar index trading at 92.02 (+0.19%)

Strength meter (today so far) – Euro -0.27%, Franc -0.50%, Yen +0.01%, GBP -0.27%

Strength meter (since last week) – Euro +0.17%, Franc -0.14%, Yen +0.48%, GBP +0.36%

EUR/USD –

Trading at 1.203

Trend meter –

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

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 (testing)

Economic release today –

  • NIL

Commentary –

  • The euro is down today as the dollar recovers. Active call – Buy targeting 1.25

GBP/USD –

Trading at 1.356

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 –

  • Markit construction PMI declines to 52.2 in December.

Commentary –

  • The pound is higher this week as dollar weakens.

USD/JPY –           

Trading at 112.2

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 the best performer of the week on Iran tensions. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.976

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 –

  • SVME PMI rose to 65.2 in December.

Commentary –

  • Franc is the worst performer this week. Active call – Buy pair targeting 1.02

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