Dollar index trading at 97.10 (+0.49%)
Strength meter (today so far) – Euro -0.25%, Franc -0.15%, Yen -0.26%, GBP -1.45%
Strength meter (since last week) – Euro -0.25%, Franc -0.15%, Yen -0.26%, GBP -1.45%
EUR/USD –
Trading at 1.137
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 –
- Sentix investor confidence declined to -0.3 in December from 8.8 in November.
Commentary –
- The euro is down today on Brexit worries but bids are getting stronger. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.
GBP/USD –
Trading at 1.254
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 –
- Manufacturing production down 1 percent y/y in October. Industrial production down 0.8 percent y/y.
- October trade balance came at -£3.3 billion.
- GDP rose by 0.1 percent m/m in October.
Commentary –
- The pound is the worst performer of the day as Prime Minister Theresa May forced to cancel the parliamentary vote on Brexit deal 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 113
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 –
- Eco Watchers’ survey outlook index rose to 52.2 in November.
- The current index rose to 51
Commentary –
- The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. Gave up gains as the risk aversion faded amid a strong USD, despite sliding equities.
USD/CHF –
Trading at 0.99
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 –
- Unemployment rate came at 2.4 percent in November.
Commentary –
- Franc is down in line with the Euro.