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Currency snapshot (major pairs)

Dollar index trading at 94.09 (+0.04%)

Strength meter (today so far) – Euro -0.08%, Franc -0.09%, Yen +0.02%, GBP -0.03%

Strength meter (since last week) – Euro -0.48%, Franc -0.66%, Yen -0.41%, GBP +0.27%

EUR/USD –

Trading at 1.173

Trend meter –

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

Support          

  • Long term – 1.14, Medium term – 1.16, Short term – 1.16

Resistance –

  • Long term – 1.22, Medium term – 1.22, Short term – 1.2

Economic release today –

  • NIL

Commentary –

  • The euro is under pressure today as German coalition talks fail. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.323

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 rose to £7.464 billion in October.
  • CBI industrial survey order index rose to 17 for November.

Commentary –

  • The pound is the best performer of the week.

USD/JPY –           

Trading at 112.5

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 –

  • All industry activity index down 0.5 percent in September.

Commentary –

  • The yen is down this week on lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.994

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 – 1.00

Economic release today –

  • October trade balance came at 2.333 billion.

Commentary –

  • Franc is the worst performer of the week. Active call – Buy pair targeting 1.02

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