Currency snapshot (major pairs)

Dollar index trading at 96.63 (-0.37%)

Strength meter (today so far) – Euro +0.08%, Franc +0.13%, Yen +0.01%, GBP -0.23%

Strength meter (since last week) – Euro +0.69%, Franc +0.52%, Yen +0.63%, GBP +0.15%

EUR/USD –

Trading at 1.139

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 –

• Q3 GDP came at 1.6 percent y/y.

      Commentary –

• The euro is heading higher as the dollar weakens after Sino-American trade truce. The best performer of the week. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.276

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 –

• Halifax house price index down 1.4 percent in three months to November, up just 0.3 percent from a year ago.
• Consumer inflation expectations at 3.2 percent in November.

Commentary –

• The pound remains volatile over Brexit deal comments and news. Up this week, as the dollar weakens. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25

USD/JPY –           

Trading at 112.7

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 –

• Labor cash earnings up 1.5 percent y/y in October.

Commentary –

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

USD/CHF –

Trading at 0.992

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 (testing)

Economic release today –

• NIL

Commentary –

• Franc is the worst performer this week but up against the USD.