Currency snapshot (major pairs)

Dollar index trading at 94.62 (+0.10%)

Strength meter (today so far) – Euro -0.16%, Franc -0.40%, Yen -0.29%, GBP +0.03%

Strength meter (since last week) – Euro +0.28%, Franc -0.15%, Yen +0.24%, GBP +0.73%

EUR/USD –

Trading at 1.163

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 –

• Eurozone GDP grew 0.6 percent q/q in the third quarter, up 2.5 percent from a year ago.
• Unemployment rate declined to 8.9 percent in September.
• Consumer price index is up 1.1 percent y/y in October.

Commentary –

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

GBP/USD –

Trading at 1.321

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 –

• GFK consumer confidence declines to -10 in October.

Commentary –

• The pound is the best performer of the week as it rises against a weaker dollar, speculating on BoE rate decision.

USD/JPY –           

Trading at 113.3

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 –

• Housing starts down 2.9 percent y/y in September.
• BoJ kept monetary policy unchanged with rates at -0.1 percent.  

Commentary –

• The yen is up on weaker dollar. Active call – Buy yen targeting 101

USD/CHF –

Trading at 0.999

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 –

• NIL

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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