Currency snapshot (major pairs)

Dollar index trading at 91.89 (+0.03%)

Strength meter (today so far) – Euro +0.13%, Franc -0.01%, Yen -0.50%, GBP -0.19%

Strength meter (since last week) – Euro +0.13%, Franc -0.01%, Yen -0.50%, GBP -0.19%

EUR/USD –

Trading at 1.196

Trend meter –

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

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.175

Resistance –

• Long term – 1.22, Medium term – 1.22, Short term – 1.22

Economic release today –

• CPI inflation up 1.5 percent y/y in August. Core inflation is up 1.3 percent y/y.

Commentary –

• The euro is consolidating ahead of FOMC this week.

GBP/USD –

Trading at 1.357

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.313

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.36

Economic release today –

• BoE’s Carney is scheduled to speak at 15:00 GMT.

Commentary –

• The pound is the worst performer of the day after a big rise last week as BoE signaled future rate hike and BoE dove Vlieghe talked of rate hike.

USD/JPY –           

Trading at 111.4

Trend meter –

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

Support –

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

Resistance –

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

Economic release today –

• NIL

Commentary –

• The yen is the worst performer of the day, as safe-haven demand fades. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.959

Trend meter –

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

Support –

• Long term – 0.90, Medium term – 0.92, Short term – 0.92

Resistance –

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

Economic release today –

• NIL

Commentary –

• Franc is almost flat for the day. Active call – sell pair targeting 0.92

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