Currency snapshot (major pairs)

Dollar index trading at 95.1 (+0.37%)

Strength meter (today so far) – Euro -0.40%, Franc -0.17%, Yen -0.34%, GBP -0.27%

Strength meter (since last week) – Euro -0.34%, Franc -0.10%, Yen -0.18%, GBP +0.57%

EUR/USD –

Trading at 1.157

Trend meter –

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

Support          

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

Resistance –

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

Economic release today –

• Retail sales up 0.7 percent in September, up 3.7 percent from a year ago.

Commentary –

• The euro is the worst performer of the day and the week on declining yield. Active call – Sell targeting 1.14

GBP/USD –

Trading at 1.313

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 like for like retail sales down 1 percent ion October.

Commentary –

• The pound is the best performer of the day and the week 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 –

• Labor cash earnings up 0.9 percent y/y in September.

Commentary –

• The yen is down this week on a lack of risk aversion. 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 – 1.00

Economic release today –

• Swiss forex reserve rose to 742 billion.

Commentary –

• Franc is a better performer than the euro this week. Active call – Buy pair targeting 1.02

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