Currency snapshot (major pairs)

Dollar index trading at 93.84 (-0.15%)

Strength meter (today so far) – Euro +0.07%, Franc +0.13%, Yen +0.24%, GBP -0.08%

Strength meter (since last week) – Euro -0.28%, Franc -0.14%, Yen -0.01%, GBP +0.27%

EUR/USD –

Trading at 1.175

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 this week as German coalition talks fail. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.324

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 –

• Autumn budget statement was published today.

Commentary –

• The pound is the best performer of the week.

USD/JPY –           

Trading at 112

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 –

• NIL

Commentary –

• The yen is covered earlier loss, now, flat for the week. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.989

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 –

• NIL

Commentary –

• Franc is a marginally better performer than the euro this week. Active call – Buy pair targeting 1.02

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