Currency snapshot (major pairs)

Dollar index trading at 100.3 (+0.15%)

Strength meter (today so far) – Euro -0.27%, Franc -0.34%, Yen -0.10%, GBP +0.23%

Strength meter (since last week) – Euro +0.72%, Franc -0.12%, Yen -0.57%, GBP +0.27%

EUR/USD –

Trading at 1.073

Trend meter –

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

Support                      

• Long term – 1.01, Medium term – 1.032, Short term – 1.054

Resistance –

• Long term – 1.13, Medium term – 1.11, Short term – 1.09

Economic release today –

• Eurozone GDP rose by 0.3 percent in the third quarter, up 1.7 percent from a year ago.

Commentary –

• The euro is testing key support turned resistance at 1.08. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01. stop loss revised to 1.13

GBP/USD –

Trading at 1.275

Trend meter –

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

Support –

• Long term – 1.16, Medium term – 1.2, Short term – 1.2

Resistance –

• Long term – 1.32, Medium term – 1.27, Short term – 1.27

Economic release today –

• BRC retail sales up by 0.6 percent y/y in October.

Commentary –

• The pound is up further on weaker dollar. We expect the pound to reach parity.

USD/JPY –                      

Trading at 114

Trend meter –

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

Support –

• Long term – 91, Medium term – 98, Short term – 105

Resistance –

• Long term – 119, Medium term – 115, Short term – 115

Economic release today –

• NIL

Commentary –

• The yen is testing key support around 115 area, the worst performer of the week.

USD/CHF –        

Trading at 1.01

Trend meter –

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

Support –

• Long term – 0.9, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.08, Medium term – 1.037, Short term – 1.037

Economic release today –

• CPI inflation is down 0.3 percent y/y in November.

Commentary –

• Franc is relatively worse performer compared to the euro. Franc might decline to 1.08 per dollar.