Currency snapshot (major pairs)

Dollar index trading at 93.55 (+0.07%)

Strength meter (today so far) – Euro -0.13%, Franc -0.15%, Yen +0.26%, GBP -0.39%

Strength meter (since last week) – Euro -0.53%, Franc -0.94%, Yen -0.31%, GBP -1.51%

EUR/USD –

Trading at 1.174

Trend meter –

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

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.175 (testing)

Resistance –

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

Economic release today –

• NIL

Commentary –

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

GBP/USD –

Trading at 1.318

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 –

• MPC member Haldane is scheduled to speak today at 17:30 GMT.

Commentary –

• The pound is the worst performer of the week as domestic politics weigh on Brexit outlook. Recovered some of the loss on a weaker dollar. Weaker than expected PMI reports adding to the selling pressure.

USD/JPY –           

Trading at 112.5

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 down this week on lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.977

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 –

• Consumer price inflation is up 0.2 percent in September, up 0.7 percent from a year ago.

Commentary –

• Franc is a much worse performer than the euro this week. Active call – Buy pair targeting 1.02

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest