Currency snapshot (major pairs)

Dollar index trading at 98.94 (+0.13%).

Strength meter (today so far) - Euro -0.08%, Franc +0.07%, Yen -0.10%, GBP -0.87%

Strength meter (since last week) - Euro -0.19%, Franc -0.77%, Yen -0.51%, GBP -0.55%

EUR/USD -

Trading at 1.089

Trend meter -

• Long term - Sell, Medium term - Range/Buy, Short term - Range/Sell

Support

• Long term - 1.048, Medium term - 1.048, Short term - 1.06

Resistance -

• Long term - 1.145, Medium term - 1.104, Short term - 1.1

Economic release today -

• NIL

Commentary -

• Euro is largely flat. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.458

Trend meter -

• Long term - Range/Sell, Medium term - Range/sell, Short term - Range/Sell

Support -

• Long term - 1.425, Medium term - 1.445, Short term - 1.445

Resistance -

• Long term - 1.52, Medium term - 1.5, Short term - 1.482

Economic release today -

• Industrial production dropped -0.7% in November and manufacturing production dropped by -0.4%.

Commentary -

• Pound dropped sharply further as industrial production disappointed. Active call - Sell Pound @1.54 targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 117.9

Trend meter -

• Long term - Sell, Medium term - Range/ Sell, Short term - Sell

Support -

• Long term - 115.5-116.5, Medium term - 116.5, Short term - 116.5

Resistance -

• Long term - 123.8, Medium term - 123.8, Short term - 119.5

Economic release today -

• Consumer confidence for December improved to 42.7 from 42.6 in November.
• Eco watchers outlook for December came at 48.2 and current came at 48.7

Commentary -

• Yen remain downbeat despite risk aversion due to stronger Dollar. Active call - Sell Yen @119.5 with stop loss around 123.8 and target at 114 and 110.

USD/CHF -                                                                                         

Trading at 0.997

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Sell

Support -

• Long term - 0.905, Medium term - 0.945, Short term - 1.01

Resistance -

• Long term - 1.174, Medium term - 1.07, Short term - 1.035

Economic release today -

• NIL

Commentary -

• Franc is best performer today due to risk aversion in the market. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.