Currency snapshot (major pairs)

Dollar index trading at 98.75 (-1.26%).

Strength meter (today so far) - Euro +1.89%, Franc 1.30%, Yen -0.07%, GBP +0.57%

Strength meter (since last week) - Euro +1.96%, Franc +2.11%, Yen -0.41%, GBP +0.05%

EUR/USD -

Trading at 1.084

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range

Support

• Long term - 0.98, Medium term - 1.02, Short term - 1.048

Resistance -

• Long term - 1.145, Medium term - 1.104, Short term - 1.083

Economic release today -

• ECB cuts interest rates by -0.1% and increase asset purchase program duration by six months.

Commentary -

• Euro sharply up as Draghi disappointed on stimulus today. Active call - Euro to drop towards parity.

GBP/USD -

Trading at 1.505

Trend meter -

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

Support -

• Long term - 1.46, Medium term - 1.475, Short term - 1.495

Resistance -

• Long term - 1.55, Medium term - 1.54, Short term - 1.532

Economic release today -

• Services PMI came at 55.9 in November.

Commentary -

• Pound rose as Dollar took a beating over ECB disappointment. Active call - Sell Pound @1.54 targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 123.2

Trend meter -

• Long term - Buy, Medium term - Range/Buy, Short term - Range/Buy

Support -

• Long term - 115.5-116.5, Medium term - 118.5, Short term - 120.3

Resistance -

• Long term - 130, Medium term - 128, Short term - 125.4

Economic release today -

• NIL

Commentary -

• Yen is worst performer today. Active call - Buy USD/JPY @ 121.9 targeting 123.2, 125, 127, with stop loss around 120, 118.

USD/CHF -                                                                                         

Trading at 1.005

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Buy

Support -

• Long term - 0.905, Medium term - 0.945, Short term - 1.01

Resistance -

• Long term - 1.174, Medium term - 1.07, Short term - 1.035

Economic release today -

• NIL

Commentary -

• Franc is the best performer this week