Currency snapshot (major pairs)

Dollar index trading at 97.19 (-0.27%)

Strength meter (today so far) – Euro +0.23%, Franc -0.06%, Yen +0.01%, GBP +1.05%

Strength meter (since last week) – Euro -0.36%, Franc -0.57%, Yen -0.60%, GBP -0.81%

EUR/USD –

Trading at 1.135

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 –

• Industrial production up 1.2 percent y/y.

      Commentary –

• The euro is continuing its tight range against the USD. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.263

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 –

• NIL

Commentary –

• The pound is the worst performer of the week as Prime Minister Theresa May forced to cancel parliamentary vote on Brexit deal. But recovered loss as she is set to win the no-confidence vote. 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 113.3

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 –

• Tertiary industry index 1.9 percent m/m in November..

Commentary –

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

USD/CHF –

Trading at 0.994

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

Economic release today –

• NIL

Commentary –

• Franc is down in line with the Euro.