Currency snapshot (major pairs)

Dollar index trading at 93.33 (+0.27%)

Strength meter (today so far) – Euro -0.31%, Franc -0.18%, Yen -0.22%, GBP -0.33%

Strength meter (since last week) – Euro -0.46%, Franc -1.18%, Yen -0.61%, GBP -0.30%

EUR/USD –

Trading at 1.183

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 –

• Markit services PMI came at 56.2 in November.
• Retail sales down 1.1 percent in October, up 0.4 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 1.343

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 –

• Services PMI declined to 53.8 in November.

Commentary –

• The pound is the best performer of the week on Brexit deal hope, but down against the dollar over Irish border dispute.

USD/JPY –           

Trading at 112.7

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 –

• NIL

Commentary –

• The yen is down this week as the dollar and equities rise, however, recovered some of the losses as U.S. government shutdown looms ahead. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.987

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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