Currency snapshot (major pairs)

Dollar index trading at 93.69 (+0.19%)

Strength meter (today so far) – Euro -0.16%, Franc -0.53%, Yen -0.59%, GBP -0.27%

Strength meter (since last week) – Euro -0.49%, Franc -1.44%, Yen -1.13%, GBP -0.86%

EUR/USD –

Trading at 1.175

Trend meter –

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

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.175 (testing)

Resistance –

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

Economic release today –

• Construction output declined 0.2 percent in August, up 1.6 percent from a year ago.

Commentary –

• The euro is down this week as the dollar recovers on rate hike speculation fuelled by Janet Yellen’s comments. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.316

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.313 (testing)

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.36

Economic release today –

• Unemployment rate at 4.3 percent.
• Earnings rose by 2.1 percent excluding bonus and by 2.2 percent including it.

Commentary –

• The pound is down today and wage growth fails to impress markets.

USD/JPY –           

Trading at 112.8

Trend meter –

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 108.4

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 114.2

Economic release today –

• September trade balance report will be released at 23:50 GMT.

Commentary –

• The yen remains downbeat on lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.983

Trend meter –

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

Support –

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

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 0.987

Economic release today –

• NIL

Commentary –

• Franc is much weaker performer than the euro and the worst performer of the week. Active call – Buy pair targeting 1.02

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