Key currencies (Forex) Daily Forecast - 27 Oct, 2011

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Oct 26, 2011, 6:43:12 PM10/26/11
to globalsp...@googlegroups.com

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DAILY FOREX FORECAST FROM GO MARKETS DAILY (QUOTES) FOR 27 OCT, 2011

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






EUR/USD intraday: the downside prevails.
Pivot: 1.3955

Our preference: Short positions below 1.3955 with targets @ 1.381 & 1.375 in extension.

Alternative scenario: Above 1.3955 look for further upside with 1.3985 & 1.402 as targets.

Comment: the RSI is capped by a bearish trend line.

GBP/USD intraday: under pressure.
Pivot: 1.605

Our preference: Short positions below 1.605 with targets @ 1.59 & 1.585 in extension.

Alternative scenario: Above 1.605 look for further upside with 1.609 & 1.612 as targets.

Comment: the pair has broken below its bullish channel lower boundary and should face further weakness.

USD/JPY intraday: limited upside.
Pivot: 75.9

Our preference: Long positions above 75.9 with targets @ 76.5 & 76.6 in extension.

Alternative scenario: Below 75.9 look for further downside with 75.7 & 75.4 as targets.

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

EUR/JPY intraday: turning up.
Pivot: 105.5

Our preference: Long positions above 105.5 with targets @ 106.5 & 107.05 in extension.

Alternative scenario: Below 105.5 look for further downside with 104.75 & 104.2 as targets.

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




















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