• Currency snapshot (major pairs)

    Source: FxWire Pro - Commentary / 12 Oct 2018 10:40:18   America/New_York

    Dollar index trading at 95.32 (+0.30%)

    Strength meter (today so far) – Euro -0.41%, Franc -0.21%, Yen -0.06%, GBP -0.40%

    Strength meter (since last week) – Euro +0.26%, Franc -0.15%, Yen +1.37%, GBP +0.53%

    EUR/USD –

    Trading at 1.154

    Trend meter –

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

    Support          

    • Long term – 1.10, Medium term – 1.12, Short term – 1.15 (broken)

    Resistance –

    • Long term – 1.22, Medium term – 1.18, Short term – 1.18

    Economic release today –

    • Industrial production up 1 percent in August, up 0.9 percent from a year ago.

          Commentary –

    • The euro gave up gains on last trading day of the week on broad based dollar recovery. Active Call - Sell Euro at 1.218 with 1.17 as target; target revised lower to 1.095; in short term, the euro might correct towards 1.22 area

    GBP/USD –

    Trading at 1.318

    Trend meter –

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

    Support –

    • Long term – 1.19, Medium term – 1.23, Short term – 1.285

    Resistance –

    • Long term – 1.35 Medium term – 1.32, Short term – 1.32

    Economic release today –

    • NIL

    Commentary –

    • The pound is up this week as Irish border deal within reach and a weak dollar. Active call-  short term sell at 1.413 targeting 1.375 (target reached); extended to 1.354 (target reached); extended to 1.25

    USD/JPY –           

    Trading at 112.1

    Trend meter -

    • Long term – Sell, Medium term – buy, Short term – Range/Buy

    Support –

    • Long term – 106.2, Medium term – 109.2, Short term – 111

    Resistance –

    • Long term – 117, Medium term – 114, Short term – 114

    Economic release today –

    • NIL

    Commentary –

    • The yen remains trapped in bull/bear fight amid risk aversion and strong dollar. Best performer of the week on risk aversion bid.

    USD/CHF –

    Trading at 0.992

    Trend meter –

    • Long term – Buy, Medium term – Range/sell, Short term – Range/Buy

    Support –

    • Long term – 0.90, Medium term – 0.92, Short term – 0.95

    Resistance –

    • Long term – 1.03, Medium term – 1.00, Short term – 0.98 (broken)

    Economic release today –

    • NIL

    Commentary –

    • Franc is the worst performer of the week.

     

     

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