Currency snapshot (major pairs)

Dollar index trading at 95.60 (-0.36%).

Strength meter (today so far) - Euro +0.48%, Franc +0.30%, Yen -0.27%, GBP +0.55%

Strength meter (since last week) - Euro +1.15%, Franc -0.06%, Yen -1.29%, GBP +1.81%

EUR/USD -

Trading at 1.127

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Sell

Support

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.08-1.085

Resistance -

• Long term - 1.175-1.18, Medium term - 1.14, Short term - 1.132, Immediate - 1.122

Economic release today -

• NIL

Commentary -

• Euro gained further ground ahead of FOMC next week as FED is expected to keep policy steady.

GBP/USD -

Trading at 1.544

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Sell

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512,

Resistance -

• Long term - 1.592-1.616, Medium term - 1.585, Short term - 1.543-1.545

Economic release today -

• BOE held policy steady with 8/1 votes.
• Halifax house prices rose by 2.7% in August/

Commentary -

• Pound gained grounds as BOE sounded hawkish in its policy meeting. Active call - Sell Pound targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 120.6

Trend meter -

• Long term - Buy, Medium term - Range/Buy, Short term - Range/Sell

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 124.5

Economic release today -

• Consumer confidence came at 41.7 in August while preliminary reading showed -16.5% drop in machine tools orders in August.

Commentary -

• Yen is the worst performer this week, failing to gain over equity sell offs. Active call - Sell USD/JPY targeting 114.7 area with stop loss around 122

USD/CHF -                                                                                         

Trading at 0.972

Trend meter -

• Long term - Buy, Medium term - Range, Short term - Range/Buy

Support -

• Long term - 0.88, Medium term - 0.90, Short term - 0.93

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987

Economic release today -

• NIL

Commentary -

• Franc recovered over profit booking at key support against Dollar.