Currency snapshot (major pairs)

Dollar index trading at 92.47 (+0.15%)

Strength meter (today so far) – Euro -0.54%, Franc -0.50%, Yen -0.11%, GBP +0.04%

Strength meter (since last week) – Euro -0.54%, Franc -0.50%, Yen -0.11%, GBP +0.04%

EUR/USD –

Trading at 1.188

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 –

• ECB’s Draghi is scheduled to speak at 13:00 GMT and Benoît Cœuré at 14:45 GMT.

Commentary –

• The euro is the worst performer of the day on a very weak Merkel victory. Active call – Buy euro against dollar at 1.199 with target around 1.226 and stop loss around 1.182

GBP/USD –

Trading at 1.349

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 –

• NIL

Commentary –

• The pound is the best performer of the day so far.

USD/JPY –           

Trading at 112.1

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 –

• Nikkei manufacturing PMI grew to 52.6 in September.
• Leading economic index declines to 105.2 in July and coincident index declines to 115.7
• BoJ will release minutes of meeting at 23:50 GMT.

Commentary –

• The yen is marginally down today on a stronger dollar. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.968

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 down in line with the euro. Active call – sell pair targeting 0.92

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