Currency snapshot (major pairs)

Dollar index trading at 93.07 (+0.12%)

Strength meter (today so far) – Euro -0.09%, Franc -0.12%, Yen +0.17%, GBP -0.83%

Strength meter (since last week) – Euro +1.16%, Franc +0.26%, Yen +0.12%, GBP +0.47%

EUR/USD –

Trading at 1.185

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 –

• Industrial production up 1.4 percent in August, up 3.8 percent from a year ago.

Commentary –

• The euro is the best performer of the day on upbeat economic outlook. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.313

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 –

• BoE released its credit conditions survey.

Commentary –

• The pound gave up most of the gains over UK’s domestic trouble and as Brexit talks reached deadlock.

USD/JPY –           

Trading at 112.2

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 –

• Tertiary industry index down 0.2 percent in September.

Commentary –

• The yen remains downbeat on lack of risk aversion. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.974

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 –

• NIL

Commentary –

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

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