Currency snapshot (major pairs)

Dollar index trading at 93.37 (+0.07%)

Strength meter (today so far) – Euro +0.45%, Franc +0.32%, Yen +0.60%, GBP +0.38%

Strength meter (since last week) – Euro +0.45%, Franc +0.32%, Yen +0.60%, GBP +0.38%

EUR/USD –

Trading at 1.206

Trend meter –

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

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 (testing)

Economic release today –

• Markit manufacturing PMI came at 60.6 in December.

Commentary –

• The euro is up today on weaker dollar. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.356

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 –

• Markit manufacturing PMI declines to 56.3 in December.

Commentary –

• The pound is higher today as dollar weakens.

USD/JPY –           

Trading at 112.1

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 the best performer of the day on Iran tensions. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.972

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 slightly weaker performer than the euro this week. Active call – Buy pair targeting 1.02

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