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Currency snapshot (major pairs)

Dollar index trading at 95.79 (-0.22%)

Strength meter (today so far) – Euro -0.20%, Franc -0.48%, Yen -0.23%, GBP -0.28%

Strength meter (since last week) – Euro -0.16%, Franc -0.36%, Yen -0.06%, GBP +0.05%

EUR/USD –

Trading at 1.144

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 –

  • November trade balance came at €19 billion.
  • ECB President Draghi is set for a speech at 15:00 GMT.

      Commentary –

  • The euro is down this week, as European data disappoints. The focus is on Brexit outcome. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.284

Trend meter –

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

Support –

  • Long term – 1.23, Medium term – 1.25, 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 slightly higher this week, waiting for the Brexit outcome. 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 108.5

Trend meter -

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

Support –

  • Long term – 106.2, Medium term – 109.2, Short term – 111 (broken)

Resistance –

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

Economic release today –

  • Flash reading showed Machine tools orders down 18.3 percent y/y in December.

Commentary –

  • The yen is steadily weakening since the sharp rise of two weeks ago.

USD/CHF –

Trading at 0.986

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 the worst performer of the week.

 

 

  • Market Data
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