Currency snapshot (major pairs)

Dollar index trading at 94.64 (-0.27%)

Strength meter (today so far) – Euro +0.30%, Franc -0.03%, Yen +0.01%, GBP +0.36%

Strength meter (since last week) – Euro +0.30%, Franc -0.03%, Yen +0.01%, GBP +0.36%

EUR/USD –

Trading at 1.164

Trend meter –

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

Support          

• Long term – 1.14, Medium term – 1.16, Short term – 1.16 (testing)

Resistance –

• Long term – 1.22, Medium term – 1.22, Short term – 1.2

Economic release today –

• Industrial confidence rose by 7.9 percent for October.
• Business confidence rose to 1.44
• Economic sentiment indicator rose  to 114
• Services sentiment improves to 16.2
• Consumer confidence came at -1

Commentary –

• The euro is recovering after big selloff last week. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.316

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 –

• Consumer credit rose by £1.606 billion in September.
• M4 money supply rose by 4.8 percent y/y.

Commentary –

• The pound is the best performer of the day as it rises against a weaker dollar.

USD/JPY –           

Trading at 113.6

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 –

• Unemployment report will be released at 23:30 GMT, followed by industrial production report for the month of September.    

Commentary –

• The yen is flat today as the focus is on BoJ monetary policy tomorrow. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.998

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 –

• KOF leading indicator rose to 109.1 in October.

Commentary –

• Franc is the worst performer of the week and reached our interim target at parity. Active call – Buy pair targeting 1.02

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