Currency snapshot (major pairs)

Dollar index trading at 93.99 (+0.08%)

Strength meter (today so far) – Euro -0.06%, Franc -0.16%, Yen -0.13%, GBP -0.26%

Strength meter (since last week) – Euro -0.85%, Franc -1.25%, Yen -0.66%, GBP -2.29%

EUR/USD –

Trading at 1.171

Trend meter –

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

Support          

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

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 and the dollar recovers. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.308

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 –

• Halifax house price index is up 0.8 percent in September, up 4 percent from a year ago.

Commentary –

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

USD/JPY –           

Trading at 112.9

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 –

• Labor cash earnings up 0.9 percent y/y in August.
• Leading economic index improved to 106.8 in August. Coincident index improves to 117.6

Commentary –

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

USD/CHF –

Trading at 0.98

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 –

• Forex reserve grew to 724 billion.

Commentary –

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

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