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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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