Currency snapshot (major pairs)

Dollar index trading at 93.25 (-0.51%)

Strength meter (today so far) – Euro +0.57%, Franc +0.51%, Yen +0.56%, GBP +0.41%

Strength meter (since last week) – Euro +0.75%, Franc +0.19%, Yen +0.29%, GBP +0.95%

EUR/USD –

Trading at 1.18

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 –

• Sentix investor confidence improves to 29.7 in October.

Commentary –

• The euro is up this week after finding support around 1.17 area. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.319

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 production up 2.8 percent y/y in August, Industrial production is up 1.6 percent y/y.
• Trade deficit deteriorates to £5.26 billion in August.

Commentary –

• The pound is still the best performer of the week as Tories effort to Oust Prime Minister May spoils.

USD/JPY –           

Trading at 112

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 –

• Eco Watcher’s Survey current index improves to 51.3 in September. Outlook index came at 51
• August Machinery orders report will be released at 23:50 GMT.

Commentary –

• The yen recovered from earlier loss as dollar weakens. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.975

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 –

• Unemployment rate declines to 3.1 percent in September.

Commentary –

• Franc is the worst performer of the week but up against the dollar. Active call – Buy pair targeting 1.02

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