Currency snapshot (major pairs)

Dollar index trading at 97.73 (-0.01%)

Strength meter (today so far) – Euro -0.03%, Franc -0.22%, Yen -0.29%, GBP +0.11%

Strength meter (since last week) – Euro -0.83%, Franc -0.93%, Yen -1.58%, GBP -0.85%

EUR/USD –

Trading at 1.104

Trend meter –

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

Support                      

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

Resistance –

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

Economic release today –

• NIL

Commentary –

• The euro is down today as the dollar gains on the expectations that Hillary Clinton will win. Active call – Sell EUR/USD at 1.116 with stop loss at 1.15 and target at 1.01. stop loss revised to 1.13

GBP/USD –

Trading at 1.241

Trend meter –

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

Support –

• Long term – 1.16, Medium term – 1.2, Short term – 1.2

Resistance –

• Long term – 1.32, Medium term – 1.25, Short term – 1.24

Economic release today –

• Manufacturing production rose by 0.2 percent from a year back, up 0.6 percent in September.
• Industrial production rose by 0.3 percent in September from a year back.

Commentary –

• The pound is focused on the Brexit talks. The pound has reached our target 1.2 area. We expect the pound to reach parity.

USD/JPY –                      

Trading at 104.8

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 –

• Coincident index rose to 112.1 and leading economic index marginally down to 100.5

Commentary –

• The yen is the worst performer of the week. 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 0.977

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 – 0.995

Economic release today –

• Unemployment rate for October came at 3.3 percent.

Commentary –

• Franc is down in line with the Euro. We expect Franc to strengthen against Dollar to as high as 0.86 area in the medium term. However, this call is under threat currently. We could soon revise the call.