Currency snapshot (major pairs)

Dollar index trading at 94.48 (-0.05%)

Strength meter (today so far) – Euro +0.03%, Franc +0.15%, Yen +0.15%, GBP -0.67%

Strength meter (since last week) – Euro +0.03%, Franc +0.15%, Yen +0.15%, GBP -0.67%

EUR/USD –

Trading at 1.166

Trend meter –

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

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.16 (broken)

Resistance –

• Long term – 1.22, Medium term – 1.22, Short term – 1.2

Economic release today –

• NIL

Commentary –

• The euro started the week on a positive note but downside pressure likely to remain. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.309

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.313 (testing)

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.36

Economic release today –

• Right move house price index down -0.8 percent in November, up 1.1 percent from a year ago.

Commentary –

• The pound is the worst performer of the day as political tensions brew within the Conservative Party as reports surface that 40 MPs are ready to sign no confidence against Prime Minister May.

USD/JPY –           

Trading at 113.3

Trend meter –

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 108.4

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 114.2

Economic release today –

• Machine tools orders up 49.9 percent y/y in October.

Commentary –

• The yen is marginally higher today Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.994

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 1.00

Economic release today –

• NIL

Commentary –

• Franc is a better performer than the euro this week. Active call – Buy pair targeting 1.02

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