Currency snapshot (major pairs)

Dollar index trading at 91.83 (-0.40%)

Strength meter (today so far) – Euro +0.57%, Franc +0.70%, Yen +0.18%, GBP +0.23%

Strength meter (since last week) – Euro +0.96%, Franc +0.90%, Yen +0.74%, GBP +0.63%

EUR/USD –

Trading at 1.203

Trend meter –

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

Support          

• Long term – 1.12, Medium term – 1.14, Short term – 1.16

Resistance –

• Long term – 1.22, Medium term – 1.19, Short term – 1.19 (broken)

Economic release today –

• NIL

Commentary –

• The euro remains upbeat since Draghi’s speech in Jackson Hole. It has broken the barrier around 1.2 and moved higher

GBP/USD –

Trading at 1.296

Trend meter –

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

Support –

• Long term – 1.26, Medium term – 1.275, Short term – 1.293

Resistance –

• Long term – 1.345, Medium term – 1.32, Short term – 1.32

Economic release today –

• Nationwide house price index declined 0.1 percent in August, up 2.1 percent from a year ago.
• BRC shop price report will be released at 23:00 GMT.

Commentary –

• The pound is struggling as it failed to clear key down trend line. Active call – Sell pound at 1.291 with target at 1.24

USD/JPY –           

Trading at 108.5

Trend meter –

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

Support –

• Long term – 107, Medium term – 108.4, Short term – 109

Resistance –

• Long term – 116, Medium term – 114.2, Short term – 114.2

Economic release today –

• Retail trade report will be released at 23:50 GMT.

Commentary –

• The yen has broken key resistance around 109 over North Korean missile launch. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.946

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.95 (broken)

Resistance –

• Long term – 1.04, Medium term – 1.01, Short term – 0.987

Economic release today –

• NIL

Commentary –

• Franc is up in line with the euro this week benefiting from risk-aversion flows. Active call – sell pair targeting 0.92

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