Currency snapshot (major pairs)

Dollar index trading at 94.35 (-0.01%)

Strength meter (today so far) – Euro -0.04%, Franc -0.18%, Yen -0.25%, GBP +0.01%

Strength meter (since last week) – Euro +1.08%, Franc +0.09%, Yen -0.87%, GBP +0.52%

EUR/USD –

Trading at 1.184

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 –

• NIL

Commentary –

• The euro is the best performer of the week. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.341

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 –

• Public sector net borrowing at £8.12 billion.
• GFK consumer confidence came at -13 in December.

Commentary –

• The pound retraced earlier gains over Brexit trade talk concerns.

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 –

• BoJ kept monetary policy unchanged.

Commentary –

• The yen is the worst performer this week as equities continue to rise. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.988

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 –

• November trade balance came at 2.63 billion.

Commentary –

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

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