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Key currencies (Forex) & Gold Daily Forecast - 25 Oct, 2011
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Worldwide Marketing Service
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Oct 24, 2011, 10:27:38 PM
10/24/11
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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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