Currency snapshot (major pairs)

Dollar index trading at 94.02 (+0.29%)

Strength meter (today so far) – Euro -0.31%, Franc -0.22%, Yen -0.25%, GBP -0.13%

Strength meter (since last week) – Euro -1.29%, Franc -2.20%, Yen -1.26%, GBP -0.07%

EUR/USD –

Trading at 1.174

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 down this week as the dollar recovers on tax proposal clearing Senate hurdle and German election uncertainties. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.346

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 –

• Consumer inflation expectation rose to 2.9 percent.
• Industrial production is up 3.6 percent y/y in October.
• Manufacturing production up 3.9 percent in October.
• Trade balance came at -£1.4 billion for October. 

Commentary –

• The pound is down against the dollar but recovered earlier loss on Brexit deal hope.

USD/JPY –           

Trading at 113.5

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 down this week as the dollar and equities rise. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.997

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

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