Currency snapshot (major pairs)

Dollar index trading at 97.10 (+0.49%)

Strength meter (today so far) – Euro -0.25%, Franc -0.15%, Yen -0.26%, GBP -1.45%

Strength meter (since last week) – Euro -0.25%, Franc -0.15%, Yen -0.26%, GBP -1.45%

EUR/USD –

Trading at 1.137

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Buy

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.123

Resistance –

• Long term – 1.22, Medium term – 1.18, Short term – 1.153

Economic release today –

• Sentix investor confidence declined to -0.3 in December from 8.8 in November.

      Commentary –

• The euro is down today on Brexit worries but bids are getting stronger. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.254

Trend meter –

• Long term – Sell, Medium term – Sell, Short term – Sell

Support –

• Long term – 1.19, Medium term – 1.23, Short term – 1.268

Resistance –

• Long term – 1.35 Medium term – 1.337, Short term – 1.326

Economic release today –

• Manufacturing production down 1 percent y/y in October. Industrial production down 0.8 percent y/y.
• October trade balance came at -£3.3 billion.
• GDP rose by 0.1 percent m/m in October.

Commentary –

• The pound is the worst performer of the day as Prime Minister Theresa May forced to cancel the parliamentary vote on Brexit deal Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25 and 1.21

USD/JPY –           

Trading at 113

Trend meter -

• Long term – Sell, Medium term – buy, Short term – Range/Buy

Support –

• Long term – 106.2, Medium term – 109.2, Short term – 111

Resistance –

• Long term – 117, Medium term – 114, Short term – 114

Economic release today –

• Eco Watchers’ survey outlook index rose to 52.2 in November.
• The current index  rose to 51

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. Gave up gains as the risk aversion faded amid a strong USD, despite sliding equities.

USD/CHF –

Trading at 0.99

Trend meter –

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

Support –

• Long term – 0.92, Medium term – 0.95, Short term – 0.97

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 1.00 (testing)

Economic release today –

• Unemployment rate came at 2.4 percent in November.

Commentary –

• Franc is down in line with the Euro.