Currency snapshot (major pairs)

Dollar index trading at 100.02 (-0.23%)

Strength meter (today so far) – Euro +0.27%, Franc +0.12%, Yen -0.17%, GBP +0.29%

Strength meter (since last week) – Euro -1.06%, Franc -1.33%, Yen -2.26%, GBP -0.87%

EUR/USD –

Trading at 1.073

Trend meter –

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

Support                      

• Long term – 1.01, Medium term – 1.032, Short term – 1.054

Resistance –

• Long term – 1.13, Medium term – 1.11, Short term – 1.09

Economic release today –

• Consumer price index rose by 0.5 percent y/y in October.

Commentary –

• The euro recovered on weak dollar. 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 1.247

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 – 1.27, Short term – 1.27

Economic release today –

• Retail sales grew by 7.4 percent y/y in October, up 7.6 percent excluding fuel.

Commentary –

• The pound is relatively better performer among peers but down against the dollar. The pound has reached our target 1.2 area. We expect the pound to reach parity.

USD/JPY –                      

Trading at 108.9

Trend meter –

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

Support –

• Long term – 91, Medium term – 98, Short term – 103

Resistance –

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

Economic release today –

• NIL

Commentary –

• The yen remains worst performer of the week. Likely to head towards 110 mark. 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.

USD/CHF –                                                                                         

Trading at 0.999

Trend meter –

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

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 –

• NIL

Commentary –

• Franc is marginally higher as the dollar weakens across the board.