Currency snapshot (major pairs)

Dollar index trading at 94.98 (+0.07%)

Strength meter (today so far) – Euro -0.09%, Franc -0.16%, Yen -0.12%, GBP +0.38%

Strength meter (since last week) – Euro +0.43%, Franc -0.21%, Yen -0.32%, GBP -0.25%

EUR/USD –

Trading at 1.16

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 –

• Markit services PMI rose to 55 in October.
• Producer price inflation up 0.6 percent in September, up 2.9 percent from a year ago.

Commentary –

• The euro is marginally down today, the focus is on Catalonia tension and German coalition talks. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.311

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 –

• NIL

Commentary –

• The pound is the best performer of the day after a sharp fall last week after BoE hiked rates for the first time since the Great Recession of 2008/09.

USD/JPY –           

Trading at 114.1

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 –

• NIL

Commentary –

• The yen is down today as Trump maintained harsh trade rhetoric speaking in Japan on his first Asia trip. 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 –

• Consumer price inflation rose 0.1 percent in October, up 0.7 percent from a year ago.

Commentary –

• Franc is down in line with the euro today. Active call – Buy pair targeting 1.02

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