Currency snapshot (major pairs)

Dollar index trading at 90.76 (+0.34%)

Strength meter (today so far) – Euro -0.51%, Franc -0.57%, Yen -0.34%, GBP -0.12%

Strength meter (since last week) – Euro +0.16%, Franc +0.04%, Yen +0.13%, GBP +0.45%

EUR/USD –

Trading at 1.221

Trend meter –

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

Support          

• Long term – 1.16, Medium term – 1.18, Short term – 1.2

Resistance –

• Long term – 1.25, Medium term – 1.235, Short term – 1.22 (broken)

Economic release today –

• CPI inflation up 1.4 percent y/y in December. Core CPI up 1.1 percent y/y.

Commentary –

• The euro is down today on as ECB vice President voiced concerns over euro strength. Active call – Buy targeting 1.25

GBP/USD –

Trading at 1.378

Trend meter –

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

Support –

• Long term – 1.305, Medium term – 1.335, Short term – 1.35

Resistance –

• Long term – 1.42 Medium term – 1.405, Short term – 1.38 (broken)

Economic release today –

• NIL.

Commentary –

• The pound is the best performer of the week. Active call-  Buy targeting 1.44

USD/JPY –           

Trading at 110.8

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 up on weaker dollar. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.965

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 a marginally worse performer than the euro this week. Active call – Buy pair targeting 1.02

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