Currency snapshot (major pairs)

Dollar index trading at 96.38 (+0.20%).

Strength meter (today so far) - Euro +0.17%, Franc +0.31%, Yen -0.45%, GBP -0.37%

Strength meter (since last week) - Euro -0.87%, Franc -0.79%, Yen -0.74%, GBP -2.28%

EUR/USD -

Trading at 1.12

Trend meter -

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

Support

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.08-1.085

Resistance -

• Long term - 1.175-1.18, Medium term - 1.15, Short term - 1.15

Economic release today -

• M3 money supply rose 4.8%, lower than expected 5.3%

Commentary -

• Euro is showing signs of comeback from support area of 1.11, a close above 1.123 would be quite bullish.

GBP/USD -

Trading at 1.515

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512,

Resistance -

• Long term - 1.592-1.616, Medium term - 1.585, Short term - 1.572

Economic release today -

• NIL

Commentary -

• Pound is the worst performer this week as investors pose doubts over promise by BOE officials to hike rates. Selloffs again has regained pace. Active call - Sell Pound targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 120.1

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 124.5, Immediate - 122

Economic release today -

• Flash reading showed PMI to drop in September to 50.9 from 51.7 in August.

Commentary -

• Yen sold off sharply as equities recovered from their slump. Active call - Sell USD/JPY targeting 114.7 area with stop loss around 122.

USD/CHF -                                                                                         

Trading at 0.975

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.90, Short term - 0.93

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987

Economic release today -

• NIL

Commentary -

• Franc is best performer today, gaining in spite of broad based dollar strength.