Currency snapshot (major pairs)

Dollar index trading at 96.39 (+0.03%)

Strength meter (today so far) – Euro +0.04%, Franc -0.28%, Yen +0.09%, GBP -0.05%

Strength meter (since last week) – Euro +0.04%, Franc -0.28%, Yen +0.09%, GBP -0.05%

EUR/USD –

Trading at 1.136

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 –

• CPI inflation up 1.6 percent y/y in December, and core inflation up 1 percent.

      Commentary –

• The euro is flat for the day. The focus is on Brexit news flow and ECB rate decision on Thursday. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.286

Trend meter –

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

Support –

• Long term – 1.23, Medium term – 1.25, Short term – 1.268

Resistance –

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

Economic release today –

• NIL

Commentary –

• The pound is marginally down today, after Friday’s big selloff. 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 109.7

Trend meter -

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

Support –

• Long term – 106.2, Medium term – 109.2, Short term – 111 (broken)

Resistance –

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

Economic release today –

• NIL

Commentary –

• The yen is steadily weakening since the sharp rise two weeks ago.

USD/CHF –

Trading at 0.998

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 –

• NIL

Commentary –

• Franc is again the worst performer of the week.