Currency snapshot (major pairs)

Dollar index trading at 93.16 (+0.05%)

Strength meter (today so far) – Euro -0.34%, Franc -0.89%, Yen -0.82%, GBP +0.26%

Strength meter (since last week) – Euro -0.37%, Franc -0.58%, Yen -0.88%, GBP +1.18%

EUR/USD –

Trading at 1.185

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 –

• Sentix investor confidence declines to 31.1 in December.
• Producer price inflation is up 0.4 percent in October, up 2.5 percent from a year ago.

Commentary –

• The euro is down this week as the dollar recovers on tax proposal clearing Senate hurdle. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.351

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 –

• Construction PMI rose to 53.1 in November.

Commentary –

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

USD/JPY –           

Trading at 113

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 –

• Consumer confidence index rose to 44.9 in November.

Commentary –

• The yen is down this week as the dollar and equities rise. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.984

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

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