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الأربعاء، 21 يوليو 2010

Daily Forex Analysis - 21/07/2010- Afternoon Edition

The analysis provides signals for buying and selling as well as Take Profit and Stop Loss levels.

Please find our FOREX UPDATE on EUR/USD, USD/JPY, GBP/USD:

EUR/USD intraday: rebound in sight.
Pivot: 1.2775
Our preference: Long positions above 1.2775 with targets @ 1.287 & 1.291 in extension.
Alternative scenario: Below 1.2775 look for further downside with 1.2738 & 1.2695 as targets.
Comment: the RSI has just landed on a support around 30% and is reversing up.

GBP/USD intraday: rebound expected.
Pivot: 1.52
Our preference: Long positions above 1.52 with targets @ 1.5335 & 1.54 in extension.
Alternative scenario: Below 1.52 look for further downside with 1.515 & 1.5075 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/JPY intraday: caution.
Pivot: 87.2
Our preference: Short positions below 87.2 with targets @ 86.85 & 86.65 in extension.
Alternative scenario: Above 87.2 look for further upside with 87.58 & 87.75 as targets.
Comment: intraday technical indicators are mixed and call for caution.


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