Currency snapshot (major pairs)

Dollar index trading at 92.98 (-0.29%)

Strength meter (today so far) – Euro +0.45%, Franc +0.09%, Yen +0.05%, GBP +0.62%

Strength meter (since last week) – Euro -0.20%, Franc -0.62%, Yen -0.40%, GBP +1.31%

EUR/USD –

Trading at 1.19

Trend meter –

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

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.16

Resistance –

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

Economic release today –

• Unemployment rate declines to 8.8 percent in October.
• Consumer price inflation up 1.5 percent y/y in November.

Commentary –

• The euro is down this week as the dollar recovers. However, it traced back some of the earlier loss. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.35

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.32

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.35

Economic release today –

• Nationwide house price up 0.1 percent in November, up 2.5 percent from a year ago.

Commentary –

• The pound is the best performer of the week on Brexit deal hope.

USD/JPY –           

Trading at 111.9

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 –

• Housing starts down 4.8 percent y/y in October.
• Construction orders down 6.7 percent y/y in October.

Commentary –

• The yen is marginally down this week due to lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.983

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 –

• Third quarter GDP up 0.6 percent, up 1.2 percent y/y from a year ago.

Commentary –

• Franc is the worst performer this week. Active call – Buy pair targeting 1.02

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