Currency snapshot (major pairs)

Dollar index trading at 99.3 (+0.46%).

Strength meter (today so far) - Euro -0.70%, Franc -0.67%, Yen +0.32%, GBP -0.22%

Strength meter (since last week) - Euro -1.07%, Franc -1.00%, Yen +0.88%, GBP -0.36%

EUR/USD -

Trading at 1.074

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 -

• Euro Zone CPI for December came at +0.2% for December headline and +0.8% for core

Commentary -

• Euro facing heavy selling pressure since yesterday after reaching close to 1.095 area. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.468

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 -

• UK construction PMI came at 57.8 for December.

Commentary -

• Pound is getting sold off at every rallies.. Active call - Sell Pound @1.54 targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 119.1

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 -

• Japan manufacturing PMI came at 52.6 in December.

Commentary -

• Yen is best performer so far this week over risk aversion.

USD/CHF -                                                                                         

Trading at 1.01

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 -

• NIL

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.