Currency snapshot (major pairs)

Dollar index trading at 95.09 (-0.28%)

Strength meter (today so far) – Euro +0.23%, Franc +0.48%, Yen +0.28%, GBP +0.08%

Strength meter (since last week) – Euro +0.23%, Franc +0.48%, Yen +0.28%, GBP +0.08%

EUR/USD –

Trading at 1.158

Trend meter –

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

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.15 (broken)

Resistance –

• Long term – 1.22, Medium term – 1.18, Short term – 1.18

Economic release today –

• NIL

      Commentary –

• The euro started the week on a positive note. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095; in short term, the euro might correct towards 1.22 area

GBP/USD –

Trading at 1.315

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.23, Short term – 1.285

Resistance –

• Long term – 1.35 Medium term – 1.32, Short term – 1.32

Economic release today –

• NIL

Commentary –

• The pound is trying to claw back some of the loss that happened after no deal was reached between the EU and the UK. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25

USD/JPY –           

Trading at 111.8

Trend meter -

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

Support –

• Long term – 106.2, Medium term – 109.2, Short term – 111

Resistance –

• Long term – 117, Medium term – 114, Short term – 114

Economic release today –

• Industrial production up 0.2 percent y/y in August.

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and strong dollar. Up sharply since last week on risk aversion.

USD/CHF –

Trading at 0.987

Trend meter –

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

Support –

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

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 0.98 (broken)

Economic release today –

• PPI inflation up 2.6 percent y/y in September.

Commentary –

• Franc is the best performer of the week.