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الخميس، 5 أغسطس 2010

Daily Forex Analysis - 05/08/2010- Afternoon Edition

Good afternoon,

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


EUR/USD intraday: the upside prevails.
Pivot: 1.315

Our preference: Long positions above 1.315 with targets @ 1.3225 & 1.326 in extension.

Alternative scenario: Below 1.315 look for further downside with 1.31 & 1.305 as targets.

Comment: the pair has rebounded on its MT bullish channel lower boundary and is challenging its resistance.

GBP/USD intraday: rebound.

Pivot: 1.5845

Our preference: Long positions above 1.5845 with targets @ 1.598 & 1.605 in extension.

Alternative scenario: Below 1.5845 look for further downside with 1.58 & 1.572 as targets.

Comment: the pair is on the upside and is challenging its channel upper boundary.

USD/JPY intraday: intraday support around 86.

Pivot: 86

Our preference: Long positions above 86 with targets @ 86.4 & 86.75 in extension.

Alternative scenario: Below 86 look for further downside with 85.8 & 85.55 as targets.

Comment: the pair is challenging its support, the RSI is mixed to bullish.

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Regards

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