Currency snapshot (major pairs)

Dollar index trading at 92.33 (+0.40%)

Strength meter (today so far) – Euro -0.46%, Franc -0.50%, Yen +0.00%, GBP -0.18%

Strength meter (since last week) – Euro -0.46%, Franc -0.50%, Yen +0.00%, GBP -0.18%

EUR/USD –

Trading at 1.197

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 –

• Sentix investor confidence rose to 32.9 in January.
• December services sentiment rose to 18.4
• Consumer confidence at 0.5
• Industrial confidence at 9.1
• Economic sentiment at 116
• Business climate at 1.66
• November retail sales grew 1.5 percent, up 2.8 percent from a year ago.

Commentary –

• The euro is down today as dollar recovers after three weeks of selloff. Active call – Buy targeting 1.25

GBP/USD –

Trading at 1.354

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 –

• Halifax house price down 0.6 percent in December, up 2.7 percent from a year ago

Commentary –

• The pound is down today as the dollar recovers. Active call-  Buy targeting 1.44

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 –

• NIL

Commentary –

• The yen is the best performer of the day. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.978

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 –

• Consumer price inflation rose 0.8 percent y/y in December.

Commentary –

• Franc is down in line with the euro. Active call – Buy pair targeting 1.02

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