Currency snapshot (major pairs)

Dollar index trading at 94.61 (-0.28%)

Strength meter (today so far) – Euro +0.31%, Franc +0.33%, Yen +0.53%, GBP +0.04%

Strength meter (since last week) – Euro +0.22%, Franc +0.18%, Yen +0.59%, GBP +0.42%

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 (broken)

Resistance –

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

Economic release today –

• European Commission releases economic bulletin.

Commentary –

• The euro is up this week but downside pressure remains. 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 –

• RICS house price balance came at 1 percent in October.

Commentary –

• The pound is up this 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 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 –

• Eco Watchers’ survey current rose to 52.2 in October.
• Eco Watchers’ survey outlook improves to 54.9 in October.

Commentary –

• The yen is the best performer of the week over geopolitical tensions in the Middle East. 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 – 1.00

Economic release today –

• October unemployment rate came at 3.1 percent.
• SNB chairman Jordon to speak at 16:30 GMT.

Commentary –

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

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