Currency snapshot (major pairs)

Dollar index trading at 95.69 (-0.08%)

Strength meter (today so far) – Euro +0.01%, Franc -0.04%, Yen +0.09%, GBP +0.39%

Strength meter (since last week) – Euro -0.72%, Franc -1.13%, Yen -0.11%, GBP +0.42%

EUR/USD –

Trading at 1.152

Trend meter –

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

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.15

Resistance –

• Long term – 1.22, Medium term – 1.18, Short term – 1.18

Economic release today –

• NIL

      Commentary –

• The euro is struggling around 1.15 area. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095; in short term, the euro might correct towards 1.22 area

GBP/USD –

Trading at 1.307

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.23, Short term – 1.285

Resistance –

• Long term – 1.35 Medium term – 1.32, Short term – 1.32

Economic release today –

• Halifax house price down 1.4 percent in September, up 2.5 percent from a year ago.

Commentary –

• The pound is the best performer of the week. The focus in turning on Brexit. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25

USD/JPY –           

Trading at 113.7

Trend meter -

• Long term – Sell, Medium term – buy, Short term – Range/Buy

Support –

• Long term – 106.2, Medium term – 109.2, Short term – 111

Resistance –

• Long term – 117, Medium term – 114, Short term – 114 (testing)

Economic release today –

• Labor cash earnings up 0.9 percent y/y in August.

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. Weakening since last week on the strong dollar but since yesterday, rising on risk aversion over equity selloff.

USD/CHF –

Trading at 0.992

Trend meter –

• Long term – Buy, Medium term – Range/sell, Short term – Range/Buy

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 0.98 (broken)

Economic release today –

• NIL

Commentary –

• Franc is the worst performer of the week.