Dollar index trading at 94.48 (-0.05%)
Strength meter (today so far) – Euro +0.00%, Franc -0.02%, Yen -0.02%, GBP +0.25%
Strength meter (since last week) – Euro +0.37%, Franc +0.42%, Yen +0.51%, GBP +0.86%
EUR/USD –
Trading at 1.16
Trend meter –
- Long term – Buy, Medium term – Buy, Short term – Sell
Support
- Long term – 1.14, Medium term – 1.16, Short term – 1.16 (broken)
Resistance –
- Long term – 1.22, Medium term – 1.22, Short term – 1.2
Economic release today –
- NIL
Commentary –
- The euro is up this week but downside pressure remains. Active call – Sell targeting 1.14
GBP/USD –
Trading at 1.313
Trend meter –
- Long term – Sell, Medium term – Buy, Short term – Buy
Support –
- Long term – 1.28, Medium term – 1.295, Short term – 1.313 (testing)
Resistance –
- Long term – 1.38 Medium term – 1.36, Short term – 1.36
Economic release today –
- Industrial production is up 2.5 percent y/y in September and manufacturing production is up 2.7 percent y/y.
- September trade balance came at -£2.7 billion.
Commentary –
- The pound is the best performer of the week after a sharp fall last week as BoE hiked rates for the first time since the Great Recession of 2008/09 but the statement was dovish.
USD/JPY –
Trading at 113.6
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 –
- Tertiary industry index is down 0.2 percent in October.
Commentary –
- The yen is up this week over geopolitical tensions in the Middle East. Active call – Buy yen targeting 101
USD/CHF –
Trading at 0.994
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 up in line with the euro this week. Active call – Buy pair targeting 1.02
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