Currency snapshot (major pairs)

Dollar index trading at 88.8 (-0.23%)

Strength meter (today so far) – Euro +0.17%, Franc -0.36%, Yen +0.02%, GBP +0.43%

Strength meter (since last week) – Euro +2.01%, Franc +1.47%, Yen +2.09%, GBP +1.89%

EUR/USD –

Trading at 1.249

Trend meter –

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

Support          

• Long term – 1.18, Medium term – 1.2, Short term – 1.22

Resistance –

• Long term – 1.25, Medium term – 1.25, Short term – 1.25

Economic release today –

• December trade balance came at €23.8 billion.

Commentary –

• The euro is up this week as dollar selloff continues. Active call – target  reached1.25

GBP/USD –

Trading at 1.408

Trend meter –

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

Support –

• Long term – 1.35, Medium term – 1.385, Short term – 1.385

Resistance –

• Long term – 1.50 Medium term – 1.485, Short term – 1.435

Economic release today –

• NIL

Commentary –

• The pound is up in line with other currencies. Active call-  short term sell targeting 1.375

USD/JPY –           

Trading at 106.5

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 – 112, Short term – 110

Economic release today –

• Industrial production rose 2.9 percent in December, up 4.4 percent from a year ago.

Commentary –

• The yen is the best performer of the week on risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.924

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Sell

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

• Long term – 1.03, Medium term – 0.98, Short term – 0.95

Economic release today –

• NIL

Commentary –

• Franc is a worse performer than the euro this week.

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