Currency snapshot (major pairs)

Dollar index trading at 94.62 (+0.10%)

Strength meter (today so far) – Euro -0.13%, Franc -0.29%, Yen -0.35%, GBP +0.06%

Strength meter (since last week) – Euro +0.33%, Franc -0.30%, Yen -0.37%, GBP +1.35%

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 –

• NIL

Commentary –

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

GBP/USD –

Trading at 1.329

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 –

• BRC shop price index down -0.1 percent in October.
• Nationwide house price grew 0.2 percent, up 2.5 percent from a year ago.
• Market manufacturing PMI rose to 56.3 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 114

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 –

• Nikkei manufacturing PMI rose to 52.8 in October.         

Commentary –

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

USD/CHF –

Trading at 1.00

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 –

• SVME PMI rose to 62 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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