Currency snapshot (major pairs)

Dollar index trading at 100.51 (+0.34%)

Strength meter (today so far) – Euro -0.22%, Franc -0.31%, Yen -0.59%, GBP -0.14%

Strength meter (since last week) – Euro -1.40%, Franc -1.83%, Yen -2.91%, GBP -1.19%

EUR/USD –

Trading at 1.07

Trend meter –

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

Support                      

• Long term – 1.01, Medium term – 1.032, Short term – 1.054

Resistance –

• Long term – 1.13, Medium term – 1.11, Short term – 1.09

Economic release today –

• NIL

Commentary –

• The euro continues to slide as the dollar is going strong. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01. stop loss revised to 1.13

GBP/USD –

Trading at 1.243

Trend meter –

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

Support –

• Long term – 1.16, Medium term – 1.2, Short term – 1.2

Resistance –

• Long term – 1.32, Medium term – 1.27, Short term – 1.27

Economic release today –

• Unemployment rate declined to 4.8 percent in September.
• Average earnings rose by 2.3 percent including bonus and by 2.4 percent excluding it.

Commentary –

• The pound is relatively better performer among peers but down against the dollar. The pound has reached our target 1.2 area. We expect the pound to reach parity.

USD/JPY –                      

Trading at 109.6

Trend meter –

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

Support –

• Long term – 91, Medium term – 98, Short term – 103

Resistance –

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

Economic release today –

• NIL

Commentary –

• The yen is the worst performer of the week. Heading towards 110 mark. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5. All targets reached, new target 90 added. Yen may retrace to 111 per dollar.

USD/CHF –        

Trading at 1.004

Trend meter –

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

Support –

• Long term – 0.9, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.037, Medium term – 1.01, Short term – 0.995

Economic release today –

• Zew survey expectations rose to 8.9 in November.

Commentary –

• Franc has crossed parity against the dollar. Further weakening is likely.