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DAILY FOREX FORECAST FROM TRADING CENTRAL (QUOTES) FOR 8 NOV, 2011
EUR/USD
EUR/USD intraday: range. Pivot: 1.382
Our preference: Short positions below 1.382 with targets @ 1.365 & 1.3605 in extension.
Alternative scenario: Above 1.382 look for further upside with 1.386 & 1.3935 as targets.
Comment: the RSI is mixed to bearish.
Key levels
1.3935
1.386
1.382
1.3775 last
1.365
1.3605
1.355
GBP/USD
GBP/USD intraday: bullish bias above 1.5940. Pivot: 1.5940
Our preference: Long positions above 1.5940 with targets @ 1.6090 & 1.6150 in extension.
Alternative scenario: Below 1.5940 look for further downside with 1.587 & 1.582 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Key levels
1.582
1.587
1.5940
1.6049 last
1.6090
1.6150
1.6165
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