Currency snapshot (major pairs)

Dollar index trading at 97.70 (+0.30%).

Strength meter (today so far) - Euro -0.55%, Franc -0.42%, Yen +0.18%, GBP -0.15%

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

EUR/USD -

Trading at 1.095

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 gave up some of the gains after reaching initial target. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.516

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 -

• BOE kept monetary policy steady.
• UK trade deficit came at £ 3.73 billion in October.

Commentary -

• Pound recovered sharply from big drop after BOE rate decision. Active call - Sell Pound @1.54 targeting 1.44 area with stop loss around 1.58 area. Interim call - Buy Pound @1.506 with stop loss at 1.495 and target at 1.528, 1.54 and 1.56.

USD/JPY -                      

Trading at 121.4

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 is the best performer this week, riding on risk aversion.

USD/CHF -                                                                                         

Trading at 0.987

Trend meter -

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

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 -

• SNB kept interest rate steady.

Commentary -

• Franc remains closely linked to Euro's movement.