Currency snapshot (major pairs)

Dollar index trading at 95. 37 (-0.21%).

Strength meter (today so far) - Euro +0.71%, Franc +0.51%, Yen -0.30%, GBP -0.23%

Strength meter (since last week) - Euro +1.38%, Franc +0.96%, Yen -0.36%, GBP +0.94%

EUR/USD -

Trading at 1.136

Trend meter -

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

Support

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.08-1.085, Immediate - 1.109

Resistance -

• Long term - 1.175-1.18, Medium term - 1.15, Short term - 1.132(broken)

Economic release today -

• NIL.

Commentary -

• Euro broke above 1.132 resistance area, further rise towards 1.157 is likely.

GBP/USD -

Trading at 1.532

Trend meter -

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

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 - 1.572, immediate - 1.55

Economic release today -

• Total trade balance for August came at -£3.268 billion.

Commentary -

• Pound struggling after initial rise as construction output slows and trade deficit remains large. Active call - Sell Pound targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 120.3

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 116-115, Short term - 118.6

Resistance -

• Long term - 130, Medium term - 126, Short term - 121.7, Immediate - 120.5

Economic release today -

• NIL

Commentary -

• Yen is the worst performer of the week. Active call - Sell USD/JPY targeting 114.7 area with stop loss around 122.

USD/CHF -                                                                                         

Trading at 0.961

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, Immediate -0.95

Resistance -

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

Economic release today -

• NIL

Commentary -

• Franc is gaining as Dollar is weakening across the board. Active Call - Buy USD/CHF with target around 1.03 area and stop around 0.95 area.