Key currencies (Forex) & Gold Daily Forecast - 26 Oct, 2011

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Oct 25, 2011, 6:53:35 PM10/25/11
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BELOW INFORMATION IS ONLY FOR GOOGLE GROUPS MEMBERS' SHARING ONLY!!
DAILY FOREX & GOLD FORECAST FROM GO MARKETS DAILY (QUOTES) FOR 26 OCT, 2011

EUR/USD
GBP/USD
USD/JPY
EUR/JPY
GOLD




EUR/USD intraday: bullish bias above 1.385.
Pivot: 1.385

Our preference: Long positions above 1.385 with targets @ 1.3955 & 1.3985 in extension.

Alternative scenario: Below 1.385 look for further downside with 1.381 & 1.375 as targets.

Comment: the RSI is supported by a bullish trend line.

GBP/USD intraday: caution.
Pivot: 1.594

Our preference: Long positions above 1.594 with targets @ 1.605 & 1.609 in extension.

Alternative scenario: Below 1.594 look for further downside with 1.59 & 1.585 as targets.

Comment: the pair stands above its support.

USD/JPY intraday: under pressure.
Pivot: 76.3

Our preference: Short positions below 76.3 with targets @ 75.6 & 75.4 in extension.

Alternative scenario: Above 76.3 look for further upside with 76.5 & 76.6 as targets.

Comment: the pair has broken below its support and remains under pressure, the RSI is capped by a bearish trend line.

EUR/JPY intraday: supported by a rising trend line.
Pivot: 105.15

Our preference: Long positions above 105.15 with targets @ 106.5 & 107.05 in extension.

Alternative scenario: Below 105.15 look for further downside with 104.75 & 104.2 as targets.

Comment: the pair and its intraday RSI are supported by rising trend lines.

GOLD (Spot) intraday: further upside.
Pivot: 1664.00

Our Preference: LONG positions above 1664 with 1710 & 1725 in sight.

Alternative scenario: The downside penetration of 1664 will call for a slide towards 1642 & 1611.

Comment: technically, the RSI is above its neutrality area at 50.





















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