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Currency snapshot (major pairs)

Dollar index trading at 93.48 (+0.34%)

Strength meter (today so far) – Euro -0.37%, Franc -0.67%, Yen -0.59%, GBP +0.06%

Strength meter (since last week) – Euro -0.04%, Franc -1.42%, Yen -1.55%, GBP -0.85%

EUR/USD –

Trading at 1.18

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 –

  • August current account balance came at €33.3 billion.

Commentary –

  • The euro is the best performer of week, but down against the dollar as the dollar recovers on Senate budget clearance. 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 –

  • Public sector net borrowing at £3.526 billion in September.

Commentary –

  • The pound remain down beat over domestic politics and weaker than expected economic data.

USD/JPY –           

Trading at 113.4

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 –

  • NIL        .

Commentary –

  • The yen is the worst performer of the week on rising equity prices and recovering dollar. 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 –

  • September trade balance grew to 2.92 billion.

Commentary –

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

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