The dollar witnessed a mixed session.........>

DOLLAR: The dollar witnessed a mixed session overnight, registering minor losses

against AUD, SEK & NOK and gains via EUR, GBP & JPY. President Trump's weekend

tweet over positive talks with China set the early risk-on tone, but with

shortened trading sessions ahead of year-end, the move soon fizzled out. The DXY

traded a narrow 17 pip range, last 96.45. Near-term resistance is seen at

96.65/69 which represents the 50% retracement of 97.11-96.18 & 55-dma. Bulls

need to clear the 97 level to re-challenge the Dec 14 high at 97.71.

Double-bottom support has formed at 96.15/20 with the 100-dma placed behind at

96.00. Gold remains at elevated levels around the $1280 area and is looking to

post a strong close at year-end. The yellow metal comfortably holds above

channel top resistance as highlighted in our analysis emails (Golden Times - Dec

10 & Gold Bullish Breakout - Dec 21), with bulls targeting a break of the $1300

level. It's also worth reminding of the seasonality factors which could see the

bullish tone spill over into 2019. Gold has registered gains in Q1 eleven of the

last thirteen years. Year-end flow should dictate today with bank models

suggesting dollar demand which should tie in with the latest SOMA day.