Currency snapshot (major pairs)

Dollar index trading at 96.89 (+0.21%)

Strength meter (today so far) – Euro -0.03%, Franc +0.06%, Yen -0.45%, GBP -0.34%

Strength meter (since last week) – Euro -0.27%, Franc -0.51%, Yen -0.86%, GBP -0.46%

EUR/USD –

Trading at 1.137

Trend meter –

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

Support          

• Long term – 1.10, Medium term – 1.12, Short term – 1.123

Resistance –

• Long term – 1.22, Medium term – 1.18, Short term – 1.153

Economic release today –

• Q3 GDP growth declined to 1.7 percent y/y from 2 .2 percent in the last quarter.
• Services sentiment declined to 13.6.
• Consumer confidence declined to -2.7
• Business climate declined to 1.01
• Economic sentiment declined to 109.8 in October.
• Industrial confidence declined to 3 percent in October.

      Commentary –

• The euro started the week on a downbeat note and moving lower as the yield divergence weigh. 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 1.276

Trend meter –

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

Support –

• Long term – 1.19, Medium term – 1.23, Short term – 1.268

Resistance –

• Long term – 1.35 Medium term – 1.337, Short term – 1.326

Economic release today –

• NIL

Commentary –

• The pound is also down against the USD. Likely to remain volatile amid Brexit noise. 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 112.83

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

Economic release today –

• September Industrial production report will be published at 23:30 GMT.

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and the strong dollar. Gave up all gain as risk aversion faded.

USD/CHF –

Trading at 1.00

Trend meter –

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

Support –

• Long term – 0.92, Medium term – 0.95, Short term – 0.97

Resistance –

• Long term – 1.03, Medium term – 1.00, Short term – 1.00 (testing)

Economic release today –

• KOF leading indicator declined to 100.1 in October.

Commentary –

• Franc is a much worse performer than the euro this week amid risk aversion bids.