Key currencies (EUR/USD, GBP/USD) Daily Forecast - 3 Nov, 2011

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Worldwide Marketing Service

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Nov 2, 2011, 6:46:13 PM11/2/11
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DAILY FOREX FORECAST FROM TRADING CENTRAL (QUOTES) FOR 3 NOV, 2011

EUR/USD

 
EUR/USD intraday: under pressure. Pivot: 1.3825

Our preference: Short positions below 1.3825 with targets @ 1.3695 & 1.3605 in extension.

Alternative scenario: Above 1.3825 look for further upside with 1.386 & 1.395 as targets.

Comment: the pair has struck against its resistance and remains under pressure.


GBP/USD

 
GBP/USD intraday: under pressure. Pivot: 1.6035

Our preference: Short positions below 1.6035 with targets @ 1.5890 & 1.585 in extension.

Alternative scenario: Above 1.6035 look for further upside with 1.6090 & 1.615 as targets.

Comment: the RSI is bearish and calls for further decline.


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