Dollar index trading at 97.32 (-0.33%)
Strength meter (today so far) – Euro +0.43%, Franc +0.12%, Yen -0.16%, GBP +0.87%
Strength meter (since last week) – Euro -0.58%, Franc -0.44%, Yen -0.13%, GBP -0.43%
EUR/USD –
Trading at 1.127
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Buy
Support
- Long term – 1.10, Medium term – 1.12, Short term – 1.123
Resistance –
- Long term – 1.22, Medium term – 1.18, Short term – 1.153
Economic release today –
- NIL
Commentary –
- The euro recovered some of the loss on broad based dollar selloff. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.
GBP/USD –
Trading at 1.297
Trend meter –
- Long term – Sell, Medium term – Sell, Short term – Sell
Support –
- Long term – 1.19, Medium term – 1.23, Short term – 1.268
Resistance –
- Long term – 1.35 Medium term – 1.337, Short term – 1.326
Economic release today –
- Unemployment rate rose to 4.1 percent in September.
- Earnings growth at 3 percent y/y including bonus and 3.2 percent excluding it.
Commentary –
- The pound remains volatile over Brexit deal comments and news. 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 113.9
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 –
- Q3 flash GDP report will be released at 23:50 GMT.
Commentary –
- The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. Steadily weakening as risk aversion faded and strong dollar weighed. The worst performer of the day.
USD/CHF –
Trading at 1.009
Trend meter –
- Long term – Buy, Medium term – Range/sell, Short term – Range/Buy
Support –
- Long term – 0.92, Medium term – 0.95, Short term – 0.97
Resistance –
- Long term – 1.03, Medium term – 1.00, Short term – 1.00 (testing)
Economic release today –
- Producer and import price index is up 2.3 percent y/y in October.
Commentary –
- Franc is down in line with the euro this week.