• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 02 Jan 2018 09:07:43   Eastern Standard Time

    Dollar index trading at 93.37 (+0.07%)

    Strength meter (today so far) – Euro +0.45%, Franc +0.32%, Yen +0.60%, GBP +0.38%

    Strength meter (since last week) – Euro +0.45%, Franc +0.32%, Yen +0.60%, GBP +0.38%

    EUR/USD –

    Trading at 1.206

    Trend meter –

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

    Support          

    • Long term – 1.14, Medium term – 1.16, Short term – 1.16

    Resistance –

    • Long term – 1.22, Medium term – 1.22, Short term – 1.2 (testing)

    Economic release today –

    • Markit manufacturing PMI came at 60.6 in December.

    Commentary –

    • The euro is up today on weaker dollar. Active call – Sell targeting 1.14

    GBP/USD –

    Trading at 1.356

    Trend meter –

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

    Support –

    • Long term – 1.28, Medium term – 1.295, Short term – 1.32

    Resistance –

    • Long term – 1.38 Medium term – 1.36, Short term – 1.35

    Economic release today –

    • Markit manufacturing PMI declines to 56.3 in December.

    Commentary –

    • The pound is higher today as dollar weakens.

    USD/JPY –           

    Trading at 112.1

    Trend meter –

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

    Support –

    • Long term – 107, Medium term – 108.4, Short term – 108.4

    Resistance –

    • Long term – 116, Medium term – 114.2, Short term – 114.2

    Economic release today –

    • NIL

    Commentary –

    • The yen is the best performer of the day on Iran tensions. Active call – Buy yen targeting 101

    USD/CHF –

    Trading at 0.972

    Trend meter –

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

    Support –

    • Long term – 0.90, Medium term – 0.92, Short term – 0.95

    Resistance –

    • Long term – 1.04, Medium term – 1.01, Short term – 1.00

    Economic release today –

    • NIL

    Commentary –

    • Franc is a slightly weaker performer than the euro this week. Active call – Buy pair targeting 1.02

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