Currency snapshot (major pairs)

Dollar index trading at 101.85 (+0.02%)

Strength meter (today so far) – Euro -0.01%, Franc +0.08%, Yen +0.05%, GBP -0.15%

Strength meter (since last week) – Euro +0.52%, Franc +0.32%, Yen +0.85%, GBP -0.96%

EUR/USD –

Trading at 1.058

Trend meter –

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

Support                      

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

Resistance –

• Long term – 1.11, Medium term – 1.087, Short term – 1.067

Economic release today –

• NIL

Commentary –

• The Euro could see some upside ahead as ECB is expected to scale back asset purchases.. 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 1.215

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 shop price rose by 1 percent in December.

Commentary –

• The pound remains the worst performer of the week as the market fears hard Brexit. We expect the pound to reach parity.

USD/JPY –                      

Trading at 115.9

Trend meter –

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

Support –

• Long term – 98, Medium term – 105, Short term – 112

Resistance –

• Long term – 121, Medium term – 120, Short term – 119

Economic release today –

• NIL

Commentary –

• The yen is the best performer of the week on hard Brexit fear.

USD/CHF –                                                                                         

Trading at 1.013

Trend meter –

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

Support –

• Long term – 0.95, Medium term – 0.95, Short term – 1

Resistance –

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

Economic release today –

• Unemployment rate came at 3.3 percent in December.

Commentary –

• Franc is going back to test parity. Franc might decline to 1.08 per dollar. Target extended o 1.14