Currency snapshot (major pairs)

Dollar index trading at 97.07 (+0.09%)

Strength meter (today so far) – Euro +0.04%, Franc +0.19%, Yen +0.36%, GBP -1.48%

Strength meter (since last week) – Euro -0.15%, Franc +0.09%, Yen +0.55%, GBP -1.27%

EUR/USD –

Trading at 1.132

Trend meter –

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

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.123

Resistance –

• Long term – 1.22, Medium term – 1.18, Short term – 1.153

Economic release today –

• September trade balance came at €13.4 billion.

      Commentary –

• The euro recovered some of the loss on broad based dollar selloff but still down for the week. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.297

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.23, Short term – 1.268

Resistance –

• Long term – 1.35 Medium term – 1.337, Short term – 1.326

Economic release today –

• Retail sales up 2.2 percent y/y in October. Up 2.7 percent y/y excluding fuel.

Commentary –

• The pound remains volatile over Brexit deal comments and news. The worst performer of the day and week as several cabinet ministers quit over Brexit deal. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25

USD/JPY –           

Trading at 113.1

Trend meter -

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

Support –

• Long term – 106.2, Medium term – 109.2, Short term – 111

Resistance –

• Long term – 117, Medium term – 114, Short term – 114

Economic release today –

• NIL

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. Steadily weakening as risk aversion faded and strong dollar weighed. The best performer of the day and week as risk aversion returns.

USD/CHF –

Trading at 1.009

Trend meter –

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

Support –

• Long term – 0.92, Medium term – 0.95, Short term – 0.97

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 1.00 (testing)

Economic release today –

• NIL

Commentary –

• Franc is a much better performer than the euro this week amid risk aversion.