Currency snapshot (major pairs)

Dollar index trading at 90.7 (-0.32%)

Strength meter (today so far) – Euro +0.36%, Franc +0.45%, Yen +0.06%, GBP +0.21%

Strength meter (since last week) – Euro +0.28%, Franc +0.49%, Yen -0.31%, GBP +0.98%

EUR/USD –

Trading at 1.222

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 –

• NIL

Commentary –

• The euro is recovering after falling on ECB’s dovish comments. Active call – Buy targeting 1.25

GBP/USD –

Trading at 1.386

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 111.3

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 –

• Industrial production rose 0.5 percent in November, up 3.6 percent from a year ago.

Commentary –

• The yen is down due to lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.96

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 better performer than the euro this week. Active call – Buy pair targeting 1.02

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