Currency snapshot (major pairs)

Dollar index trading at 93.81 (-0.14%)

Strength meter (today so far) – Euro +0.11%, Franc -0.26%, Yen -0.22%, GBP +0.87%

Strength meter (since last week) – Euro -0.01%, Franc -1.02%, Yen -0.66%, GBP +0.52%

EUR/USD –

Trading at 1.177

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 remains down this week over Catalonia tension and strong dollar. The focus is on ECB monetary policy. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.325

Trend meter –

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

Support –

• Long term – 1.28, Medium term – 1.295, Short term – 1.313 (testing)

Resistance –

• Long term – 1.38 Medium term – 1.36, Short term – 1.36

Economic release today –

• BBA mortgage applications came at 41,584 in September.
• GDP rose by 0.4 percent q/q in the third quarter, up 1.5 percent from a year ago.

Commentary –

• The pound is the best performer of the day and the week as GDP outperforms.

USD/JPY –           

Trading at 114.2

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 –

• Corporate service price report will be released at 23:50 GMT.

Commentary –

• The yen is down this week as incumbent Prime Minister Shinzo Abe in for massive victory. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.988

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 (testing)

Economic release today –

• UBS consumption indicator rose to 1.56 in September.
• Zew survey expectation index rose to 32 in October.

Commentary –

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

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