Currency snapshot (major pairs)

Dollar index trading at 98.03 (-0.39%).

Strength meter (today so far) - Euro +0.35%, Franc +0.28%, Yen +0.33%, GBP +0.53%

Strength meter (since last week) - Euro +0.48%, Franc +0.40%, Yen +0.42%, GBP -0.18%

EUR/USD -

Trading at 1.094

Trend meter -

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

Support

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

Resistance -

• Long term - 1.145, Medium term - 1.104, Short term - 1.1

Economic release today -

• NIL

Commentary -

• Euro trying to gain ground over weaker Dollar, however FED meeting working as a lock on the upside.

GBP/USD -

Trading at 1.508

Trend meter -

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

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 -

• NIL

Commentary -

• Pound has sharply clawed back from its yesterday's big drop against Dollar. Active call - Sell Pound @1.54 targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 122.5

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 -

• Machine tools orders down -17.9% in November from a year ago.

Commentary -

• Yen gained ground over weaker Dollar. Active call - Buy USD/JPY @ 121.9 targeting 123.2, 125, 127, with stop loss around 120, 118.

USD/CHF -                                                                                         

Trading at 0.991

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 remains closely linked to Euro's movement.