Currency snapshot (major pairs)

Dollar index trading at 92.53 (+0.20%)

Strength meter (today so far) – Euro -0.32%, Franc -0.49%, Yen +0.48%, GBP -0.32%

Strength meter (since last week) – Euro -0.77%, Franc -0.91%, Yen +0.39%, GBP -0.27%

EUR/USD –

Trading at 1.193

Trend meter –

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

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.18

Resistance –

• Long term – 1.22, Medium term – 1.22, Short term – 1.2

Economic release today –

• November unemployment report came at 8.7 percent.

Commentary –

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

GBP/USD –

Trading at 1.353

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 –

• BRC like for like retail sales up 0.6 percent y/y in November.

Commentary –

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

USD/JPY –           

Trading at 112.6

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 –

• Labor cash earnings rose 0.9 percent y/y in November.

Commentary –

• The yen is the best performer of the week on reports that BoJ trimming bond purchases. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.982

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 –

• December unemployment report will be released at 3 percent.
• November Forex reserve came at 744 billion.
• Real retail sales down 0.2 percent y/y in November

Commentary –

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

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