Currency snapshot (major pairs)

Dollar index trading at 90.25 (-0.03%)

Strength meter (today so far) – Euro +0.07%, Franc -0.30%, Yen -0.49%, GBP +0.12%

Strength meter (since last week) – Euro -1.50%, Franc -0.90%, Yen +0.98%, GBP -1.14%

EUR/USD –

Trading at 1.227

Trend meter –

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

Support          

• Long term – 1.18, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.25, Medium term – 1.25, Short term – 1.25

Economic release today –

• NIL

Commentary –

• The euro is down this week as hike speculations uplifted the dollar. Active call – target  reached1.25

GBP/USD –

Trading at 1.395

Trend meter –

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

Support –

• Long term – 1.35, Medium term – 1.385, Short term – 1.385

Resistance –

• Long term – 1.50 Medium term – 1.485, Short term – 1.435

Economic release today –

• Industrial production down -1.3 percent in December, flat for the year.
• Manufacturing production rose by 1.4 percent y/y.
• Total trade balance came at -£4.896 billion.

Commentary –

• The pound is the down in line with other currencies as the dollar recovers. Active call-  short term sell targeting 1.375

USD/JPY –           

Trading at 109.1

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 – 112, Short term – 110

Economic release today –

• NIL

Commentary –

• The yen is the best performer of the week on risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.938

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Sell

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

• Long term – 1.03, Medium term – 0.98, Short term – 0.95

Economic release today –

• NIL

Commentary –

• Franc is down in line with the euro.

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