• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 03 Jan 2018 09:19:24   Eastern Standard Time

    Dollar index trading at 92.02 (+0.19%)

    Strength meter (today so far) – Euro -0.27%, Franc -0.50%, Yen +0.01%, GBP -0.27%

    Strength meter (since last week) – Euro +0.17%, Franc -0.14%, Yen +0.48%, GBP +0.36%

    EUR/USD –

    Trading at 1.203

    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 –

    • NIL

    Commentary –

    • The euro is down today as the dollar recovers. Active call – Buy targeting 1.25

    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 construction PMI declines to 52.2 in December.

    Commentary –

    • The pound is higher this week as dollar weakens.

    USD/JPY –           

    Trading at 112.2

    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 week on Iran tensions. Active call – Buy yen targeting 101

    USD/CHF –

    Trading at 0.976

    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 –

    • SVME PMI rose to 65.2 in December.

    Commentary –

    • Franc is the worst performer this week. Active call – Buy pair targeting 1.02

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