Currency snapshot (major pairs)

Dollar index trading at 96.93 (+0.10%).

Strength meter (today so far) - Euro -0.01%, Franc +0.24%, Yen +0.33%, GBP -0.45%

Strength meter (since last week) - Euro -1.31%, Franc -1.48%, Yen +0.34%, GBP -1.59%

EUR/USD -

Trading at 1.108

Trend meter -

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

Support

• Long term - 1.048, Medium term - 1.07, Short term - 1.078

Resistance -

• Long term - 1.18, Medium term - 1.15, Short term - 1.13

Economic release today -

• NIL

Commentary -

• Euro struggling to make gains amid weaker data from Europe.. Active Call - Buy Euro @1.09 and at dips targeting 1.155 area and stop loss at 1.05

GBP/USD -

Trading at 1.437

Trend meter -

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

Support -

• Long term - 1.405, Medium term - 1.415, Short term - 1.42

Resistance -

• Long term - 1.52, Medium term - 1.52, Short term - 1.467

Economic release today -

• Retail sales rose by 5.2% from a year ago. Sales were up 2.3% excluding fuel.

Commentary -

• Pound dropped today and again turning out as worst performer this week.

USD/JPY -                      

Trading at 113.8

Trend meter -

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

Support -

• Long term - 115.5-116.5 (broken), Medium term - 116.5 (broken), Short term - 116.5 (broken)

Resistance -

• Long term - 123.8, Medium term - 123.8, Short term - 120.5

Economic release today -

• All industry activity index decline by -0.9% in December

Commentary -

• Yen recovered earlier loss and now positive for the week. Active call - Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5

USD/CHF -                                                                                         

Trading at 0.995

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 down in line with Euro. Active call - Sell USD/CHF @0.985 and at rallies - targeting 0.895 area and stop loss at 1.03 area.