Currency snapshot (major pairs)

Dollar index trading at 98.36 (+0.15%).

Strength meter (today so far) - Euro -0.32%, Franc -0.30%, Yen +0.10%, GBP +0.51%

Strength meter (since last week) - Euro +0.48%, Franc +0.04%, Yen +0.18%, GBP +0.05%

EUR/USD -

Trading at 1.091

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 is still best performer this week, however worst performer today. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.49

Trend meter -

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

Support -

• Long term - 1.46, Medium term - 1.475, Short term - 1.49 (broken)

Resistance -

• Long term - 1.55, Medium term - 1.54, Short term - 1.52

Economic release today -

• GDP came at 0.4% q/q and 2.1% y/y lower than expected.

Commentary -

• Pound is up and best performer today on short covering. Active call - Sell Pound @1.54 targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 120.9

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 marginally higher today.

USD/CHF -                                                                                         

Trading at 0.991

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 -

• KOF leading indicator dropped to 96.6 in December from 97.3

Commentary -

• Franc is moving in line with Euro. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.