 - EconoTimes)
Dollar index trading at 101.97 (+0.02%)
Strength meter (today so far) – Euro -0.15%, Franc +0.02%, Yen -0.01%, GBP +0.32%
Strength meter (since last week) – Euro +0.52%, Franc +0.26%, Yen -0.69%, GBP +1.25%
EUR/USD –
Trading at 1.064
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support
- Long term – 1.01, Medium term – 1.032, Short term – 1.054
Resistance –
- Long term – 1.13, Medium term – 1.11, Short term – 1.09
Economic release today –
- Producer price inflation rose by 0.8 percent in October, down -0.4 percent from a year back.
Commentary –
- The euro gave up some of the gains but still positive on the dollar. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01. stop loss revised to 1.13
GBP/USD –
Trading at 1.263
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support –
- Long term – 1.16, Medium term – 1.2, Short term – 1.2
Resistance –
- Long term – 1.32, Medium term – 1.27, Short term – 1.27
Economic release today –
- Construction PMI came at 52.8 in November.
Commentary –
- The pound is the best performer of the week, up on inflation expectations. We expect the pound to reach parity.
USD/JPY –
Trading at 113.9
Trend meter –
- Long term – Sell, Medium term – Range/ Buy, Short term – Buy
Support –
- Long term – 91, Medium term – 98, Short term – 105
Resistance –
- Long term – 119, Medium term – 115, Short term – 115
Economic release today –
- NIL
Commentary –
- The yen is the worst performer of the week as risk aversion subsided.
USD/CHF –
Trading at 1.009
Trend meter –
- Long term – Buy, Medium term – Range, Short term – Range/Buy
Support –
- Long term – 0.9, Medium term – 0.927, Short term – 0.95
Resistance –
- Long term – 1.08, Medium term – 1.037, Short term – 1.037
Economic release today –
- GDP rose by 1.3 percent in the third quarter from a year ago.
Commentary –
- Franc is heading lower on weaker dollar. Franc might decline to 1.08 per dollar.
