Currency snapshot (major pairs)

Dollar index trading at 101.45 (-0.24%)

Strength meter (today so far) – Euro +0.32%, Franc +0.42%, Yen +0.33%, GBP -0.15%

Strength meter (since last week) – Euro +0.12%, Franc -0.42%, Yen -1.96%, GBP +0.90%

EUR/USD –

Trading at 1.06

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 –

• NIL

Commentary –

• The euro is testing key support level. 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 1.243

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 –

• GDP rose by 0.5 percent in the third quarter.
• CBI distributive trade survey report shows 26 percent gains.

Commentary –

• The pound remains well supported by the budget statement. We expect the pound to reach parity.

USD/JPY –                      

Trading at 112.9

Trend meter –

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

Support –

• Long term – 91, Medium term – 98, Short term – 105

Resistance –

• Long term – 119, Medium term – 115, Short term – 115

Economic release today –

• NIL.

Commentary –

• The yen strengthens a bit, still, overall weakness persists.

USD/CHF –        

Trading at 1.012

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 – 1.08, Medium term – 1.037, Short term – 1.037

Economic release today –

• NIL

Commentary –

• Franc is up today and the best performer as uncertainty surrounding US election hits the market. Franc might decline to 1.08 per dollar.