Currency snapshot (major pairs)

Dollar index trading at 100.02 (-0.23%)

Strength meter (today so far) – Euro +0.02%, Franc +0.02%, Yen +0.15%, GBP -0.08%

Strength meter (since last week) – Euro -2.10%, Franc -2.07%, Yen -3.28%, GBP -1.45%

EUR/USD –

Trading at 1.062

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 –

• Current account balance came at €25.3 billion in September.

Commentary –

• The euro is on its 10th consecutive daily decline. The longest decline since the Lehman brother collapse. 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 1.239

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 –

• NIL

Commentary –

• The pound is relatively better performer among peers but still down against the dollar. We expect the pound to reach parity.

USD/JPY –                      

Trading at 110.1

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 has broken above 110 area and likely to extend its decline towards 115.

USD/CHF –        

Trading at 1.007

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 down in line with the euro. Franc might decline to 1.08 per dollar.