Currency snapshot (major pairs)

Dollar index trading at 97.40 (+0.03%)

Strength meter (today so far) – Euro -0.14%, Franc -0.08%, Yen -0.02%, GBP +0.38%

Strength meter (since last week) – Euro -0.44%, Franc -0.16%, Yen -0.75%, GBP -0.12%

EUR/USD –

Trading at 1.128

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 –

• M3 money supply up 3.9 percent y/y in October.
• Private loans up 3.2 percent y/y.

      Commentary –

• The euro is treading water against the USD as focus remains on Brexit and weakness in the economy. Down for a second consecutive week. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095 area.

GBP/USD –

Trading at 1.279

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 –

• CBI distributive trade survey index rose to 19 percent.

Commentary –

• The pound remains volatile over Brexit deal comments and news. Gave up gains over Brexit uncertainty and strong USD. 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 113.8

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 –

• Retail trade report will be released at 23:50 GMT.

Commentary –

• The yen remains trapped in bull/bear fight amid risk aversion and a strong dollar. The worst performer of the week, thanks to a lack of risk aversion.

USD/CHF –

Trading at 0.999

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 –

• Zew survey expectations index declined to -42.3

Commentary –

• Franc is much better performer than the euro this week.