Currency snapshot (major pairs)

Dollar index trading at 96.61 (-0.33%)

Strength meter (today so far) – Euro +0.60%, Franc +0.42%, Yen +0.63%, GBP +0.80%

Strength meter (since last week) – Euro +0.53%, Franc +0.27%, Yen +0.81%, GBP -0.68%

EUR/USD –

Trading at 1.14

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 –

• CPI inflation up 2.2 percent y/y in October.

      Commentary –

• The euro recovered some of the loss on broad based dollar selloff and now up 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 1.287

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 –

• NIL

Commentary –

• The pound remains volatile over Brexit deal comments and news. The worst performer of the week as several cabinet ministers quit over Brexit deal. However, recovering grounds on positive Brexit developments. 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 112.8

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 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 1.002

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 slightly worse performer than the euro this week amid risk aversion.