Key currencies (Forex) & Gold Daily Forecast - 25 Oct, 2011

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Oct 24, 2011, 10:27:38 PM10/24/11
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BELOW INFORMATION IS ONLY FOR GOOGLE GROUPS MEMBERS' SHARING ONLY!!
DAILY FOREX & GOLD FORECAST FROM GO MARKETS DAILY (QUOTES) FOR 25 OCT, 2011

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



EUR/USD intraday: supported by a rising trend line.
Pivot: 1.383

Our preference: Long positions above 1.383 with targets @ 1.3955 & 1.3985 in extension.

Alternative scenario: Below 1.383 look for further downside with 1.375 & 1.37 as targets.

Comment: the pair has rebounded on its rising trend line and remains on the upside.

GBP/USD intraday: supported by a rising trend line.
Pivot: 1.59

Our preference: Long positions above 1.59 with targets @ 1.6005 & 1.605 in extension.

Alternative scenario: Below 1.59 look for further downside with 1.585 & 1.575 as targets.

Comment: the RSI is mixed to bullish.

USD/JPY intraday: under pressure.
Pivot: 76.3

Our preference: Short positions below 76.3 with targets @ 76 & 75.8 in extension.

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

Comment: the RSI has just struck against its neutrality area at 50% and is reversing down.

EUR/JPY intraday: the upside prevails.
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 is rebounding on its MT rising trend line as the RSI is turning up.

GOLD (Spot) intraday: further upside.
Pivot: 1644.00

Our Preference: LONG positions above 1644 with targets @ 1660 & 1665.

Alternative scenario: The downside penetration of 1644 will call for a slide towards 1629 & 1611.

Comment: the RSI is bullish and calls for further upside.




















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