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.