Currency snapshot (major pairs)

Dollar index trading at 96.67 (-0.31%)

Strength meter (today so far) – Euro +0.24%, Franc +0.08%, Yen +0.77%, GBP +0.11%

Strength meter (since last week) – Euro +0.98%, Franc +0.48%, Yen +1.65%, GBP +0.52%

EUR/USD –

Trading at 1.142

Trend meter –

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

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.123

Resistance –

• Long term – 1.22, Medium term – 1.18, Short term – 1.153

Economic release today –

• October current account balance came at €23 billion.

      Commentary –

• The euro gave up earlier gains as the USD recovered with a bang. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.264

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.23, Short term – 1.268

Resistance –

• Long term – 1.35 Medium term – 1.337, Short term – 1.326

Economic release today –

• Retail sales up 3.6 percent y/y in November.
• BoE kept monetary policy unchanged at today’s meeting.

Commentary –

• The pound is moving down after the big jump as the dollar recovers in American trading hours. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25 and 1.21

USD/JPY –           

Trading at 111.5

Trend meter -

• Long term – Sell, Medium term – buy, Short term – Range/Sell

Support –

• Long term – 106.2, Medium term – 109.2, Short term – 111

Resistance –

• Long term – 117, Medium term – 114, Short term – 114

Economic release today –

• BoJ kept monetary policy unchanged at today’s meeting.

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. Rising this week amid rising risk aversion in the market and a weaker USD. The best performer of the week.

USD/CHF –

Trading at 0.993

Trend meter –

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

Support –

• Long term – 0.92, Medium term – 0.95, Short term – 0.97

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 1.00

Economic release today –

• November trade balance came at $.74 billion.

Commentary –

• Franc is up this week riding on a weaker USD but much worse performer than the euro.