Currency snapshot (major pairs)

Dollar index trading at 96.24 (-0.28%)

Strength meter (today so far) – Euro +0.21%, Franc +0.15%, Yen -0.16%, GBP -0.07%

Strength meter (since last week) – Euro +0.22%, Franc -0.43%, Yen -0.87%, GBP +1.40%

EUR/USD –

Trading at 1.143

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 –

• Markit manufacturing PMI declined to 52 in October.

      Commentary –

• The euro recovered sharply on broad-based weakness in the USD Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.299

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 the best performer of the week on Brexit deal hope on financial services. 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 112.8

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 –

• NIL

Commentary –

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

USD/CHF –

Trading at 1.003

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 –

• Real retail sales  were down 2.7 percent y/y in September.   

Commentary –

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