Currency snapshot (major pairs)

Dollar index trading at 96.67 (+0.18%)

Strength meter (today so far) – Euro -0.21%, Franc -0.27%, Yen -0.42%, GBP -0.03%

Strength meter (since last week) – Euro -0.21%, Franc -0.27%, Yen -0.42%, GBP -0.03%

EUR/USD –

Trading at 1.117

Trend meter –

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

Support                      

• Long term – 1.06, Medium term – 1.08, Short term – 1.09            

Resistance –

• Long term – 1.16, Medium term – 1.143, Short term – 1.132

Economic release today –

• Sentix investor confidence came at 8.5 in October.

Commentary –

• The euro continues to struggle as Brexit comes into focus. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01. However, in the short run, Euro might ride higher.

GBP/USD –

Trading at 1.242

Trend meter –

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

Support –

• Long term – 1.2, Medium term – 1.27, Short term – 1.29

Resistance –

• Long term – 1.39, Medium term – 1.35, Short term – 1.34

Economic release today –

• BRC retail sales will be released at 23:00 GMT.

Commentary –

• The pound hasn’t moved much today but it made headlines last Friday with 6 percent drop in minutes. In the short term, we expect the pound to drop towards 1.2 area. We expect the pound to reach parity.

USD/JPY –                      

Trading at 103.2

Trend meter –

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

Support –

• Long term – 91, Medium term – 98, Short term – 98

Resistance –

• Long term – 111, Medium term – 107, Short term – 107

Economic release today –

• NIL

Commentary –

• The yen is the worst performer today. Active call – Buy Yen @119.5 with stop loss around 123.8 and target at 114 and 110, 108.9 and 98.5. All targets reached, new target 90 added. Yen may retrace to 111 per dollar if BOJ intervenes.

USD/CHF –                                                                                         

Trading at 0.979

Trend meter –

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

Support –

• Long term – 0.9, Medium term – 0.927, Short term – 0.95

Resistance –

• Long term – 1.037, Medium term – 1.01, Short term – 0.994

Economic release today –

• Unemployment rate came at 3.3 percent.

Commentary –

• Franc is likely to continue moving in line with euro. We expect Franc to strengthen against Dollar to as high as 0.86 area in the medium term.