Currency snapshot (major pairs)

Dollar index trading at 100.11 (+0.24%).

Strength meter (today so far) - Euro -0.20%, Franc -0.66%, Yen -0.08%, GBP -0.29%

Strength meter (since last week) - Euro -0.58%, Franc -1.19%, Yen +0.02%, GBP -0.89%

EUR/USD -

Trading at 1.058

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Sell

Support

• Long term - 0.98, Medium term - 1.02, Short term - 1.048

Resistance -

• Long term - 1.145, Medium term - 1.104, Short term - 1.083

Economic release today -

• Euro zone consumer confidence improved to -5.9 from -7.5 prior.
• Services sentiment rose 12.8
• Economic sentiment rose to 106.1
• Business climate worsens to 0.36 from 0.44
• Industrial confidence dropped to -3.2 from -2 prior.

Commentary -

• Euro is keeping to the low, heading towards next week ECB meeting. Active call - Euro to drop towards parity.

GBP/USD -

Trading at 1.505

Trend meter -

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

Support -

• Long term - 1.46, Medium term - 1.475, Short term - 1.495

Resistance -

• Long term - 1.55, Medium term - 1.54, Short term - 1.532

Economic release today -

• GDP rose 0.5% in third quarter, up 2.3% from a year ago.

Commentary -

• Pound remains bad performer in spite of strong GDP in line with expectations. Active call - Sell Pound @1.54 targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 122.7

Trend meter -

• Long term - Buy, Medium term - Range/Buy, Short term - Range/Buy

Support -

• Long term - 115.5-116.5, Medium term - 118.5, Short term - 120.3

Resistance -

• Long term - 130, Medium term - 128, Short term - 125.4

Economic release today -

• NIL

Commentary -

• Yen is the best performer of the week. Active call - Buy USD/JPY @ 121.9 targeting 123.2, 125, 127, with stop loss around 120, 118.

USD/CHF -                                                                                         

Trading at 1.03

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Buy

Support -

• Long term - 0.905, Medium term - 0.945, Short term - 1.01

Resistance -

• Long term - 1.174, Medium term - 1.07, Short term - 1.025

Economic release today -

• NIL

Commentary -

• Franc is the worst performer today and this week.