Currency snapshot (major pairs)

Dollar index trading at 93.18 (+0.04%)

Strength meter (today so far) – Euro -0.03%, Franc -0.67%, Yen -0.16%, GBP +0.26%

Strength meter (since last week) – Euro -0.03%, Franc -0.67%, Yen -0.16%, GBP +0.26%

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 –

• August trade balance came at €16.1 billion.

Commentary –

• The euro is marginally lower today. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.33

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 –

• NIL

Commentary –

• The pound is the best performer of the day despite Brexit deadlock.

USD/JPY –           

Trading at 111.7

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 –

• Industrial production is up 2 percent in August, up 5.3 percent from a year ago.

Commentary –

• The yen remains downbeat on lack of risk aversion. 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 –

• NIL

Commentary –

• Franc is much weaker performer than the euro and the worst performer of the day. Active call – Buy pair targeting 1.02

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