Currency snapshot (major pairs)

Dollar index trading at 96.34 (-0.06%).

Strength meter (today so far) - Euro +0.20%, Franc +0.08%, Yen +1.01%, GBP -0.39%

Strength meter (since last week) - Euro -0.32%, Franc -1.16%, Yen +2.35%, GBP -1.22%

EUR/USD -

Trading at 1.114

Trend meter -

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

Support

• Long term - 1.048-1.036, Medium term - 1.065-1.06, Short term - 1.08-1.085

Resistance -

• Long term - 1.175-1.18, Medium term - 1.172, Short term - 1.163, Immediate - 1.132

Economic release today -

• NIL

Commentary -

• Euro marginally recovered today, from its sharp loss yesterday over dovish ECB.

GBP/USD -

Trading at 1.52

Trend meter -

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

Support -

• Long term - 1.425-1.417, Medium term - 1.497-1.49, Short term - 1.518-1.512,

Resistance -

• Long term - 1.592-1.616, Medium term - 1.595, Short term - 1.55

Economic release today -

• NIL

Commentary -

• Pound is turning out to be worst performer this week. Active call - Sell Pound targeting 1.44 area with stop loss around 1.58 area.

USD/JPY -                      

Trading at 118.9

Trend meter -

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

Support -

• Long term - 113.7-112.9, Medium term - 115.7-115, Short term - 118

Resistance -

• Long term - 130, Medium term - 127.5, Short term - 124.5

Economic release today -

• NIL

Commentary -

• Yen is the best performer today and this week as heavy risk aversion is hovering across markets. Active call - Sell USD/JPY targeting 114.7 area with stop loss around 122

USD/CHF -                                                                                         

Trading at 0.973

Trend meter -

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

Support -

• Long term - 0.88, Medium term - 0.90, Short term - 0.93

Resistance -

• Long term - 1.174, Medium term - 1.025-1.02, Short term - 0.984-0.987

Economic release today -

• Swiss inflation came at -0.2%m/m in August, down -1.4% from a year ago.

Commentary -

• Franc is likely to drop further against Dollar as SNB remains net seller of Franc