Currency snapshot (major pairs)

Dollar index trading at 93.48 (+0.41%)

Strength meter (today so far) – Euro -0.40%, Franc -0.21%, Yen -0.44%, GBP -0.82%

Strength meter (since last week) – Euro -0.40%, Franc -0.21%, Yen -0.44%, GBP -0.82%

EUR/USD –

Trading at 1.176

Trend meter –

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

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 –

• Markit manufacturing PMI declines to 58.1 in September.
• August unemployment rate came at 9.1 percent.

Commentary –

• The euro is down today as Catalonia independence referendum weighs. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.327

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 –

• Manufacturing PMI declines to 55.9 in September.

Commentary –

• The pound is the worst performer of the day as domestic politics weigh on Brexit outlook.

USD/JPY –           

Trading at 112.6

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 –

• Manufacturing PMI improves to 52.9 in September.
• Vehicle sales up 0.4 percent y/y in September.

Commentary –

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

USD/CHF –

Trading at 0.97

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

Resistance –

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

Economic release today –

• Real retail sales down 0.2 percent y/y in August.
• SVME PMI up 61.7 in September.

Commentary –

• Franc is down in line with the euro. Active call – Buy pair targeting 1.02

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