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الثلاثاء، 13 يوليو 2010

Daily Forex Analysis - 07/13/10 - Afternoon Edition‏

FOREX UPDATE on EUR/USD, USD/JPY, GBP/USD:

EUR/USD intraday: intraday support around 1.2525.
Pivot: 1.2525
Our preference: Long positions above 1.2525 with targets @ 1.262 & 1.265 in extension.
Alternative scenario: Below 1.2525 look for further downside with 1.2475 & 1.243 as targets.
Comment: the pair is rebounding on its support as the RSI is turning up.

GBP/USD intraday: continuation of the rebound.
Pivot: 1.505
Our preference: Long positions above 1.505 with targets @ 1.513 & 1.5175 in extension.
Alternative scenario: Below 1.505 look for further downside with 1.5005 & 1.4975 as targets.

Comment: the RSI has broken above a declining trend line, the pair is on the upside and is challenging its resistance.

USD/JPY intraday: the downside prevails.
Pivot: 88.6
Our preference: Short positions below 88.6 with targets @ 87.95 & 87.7 in extension.
Alternative scenario: Above 88.6 look for further upside with 88.85 & 89 as targets.
Comment: the pair is on the downside and is breaking below its support.

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