Currency snapshot (major pairs)

Dollar index trading at 92.6 (-0.22%)

Strength meter (today so far) – Euro +0.14%, Franc -0.32%, Yen +0.35%, GBP +0.26%

Strength meter (since last week) – Euro +0.14%, Franc -0.32%, Yen +0.35%, GBP +0.26%

EUR/USD –

Trading at 1.195

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 continuing its rise against dollar as Germany is close a grand coalition. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.336

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.32

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.35

Economic release today –

• NIL

Commentary –

• The pound is up this week on a weaker dollar.

USD/JPY –           

Trading at 111.1

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 the best performer of this week. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.98

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 –

• Third quarter employment level at 4.956 million.

Commentary –

• Franc is the worst performer this week. Active call – Buy pair targeting 1.02

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest