Key currencies (EUR/USD, GBP/USD) Daily Forecast - 7 Nov, 2011

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Worldwide Marketing Service

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Nov 7, 2011, 2:49:00 AM11/7/11
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DAILY FOREX FORECAST FROM TRADING CENTRAL (QUOTES) FOR 7 NOV, 2011

EUR/USD

EUR/USD intraday: bounce. Pivot: 1.3715

Our preference: Long positions above 1.3715 with targets @ 1.386 & 1.3935 in extension.

Alternative scenario: Below 1.3715 look for further downside with 1.365 & 1.3605 as targets.

Comment: the RSI has just landed on a support around 30% and is reversing up.


GBP/USD

 
GBP/USD intraday: bounce. 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: the RSI has just landed on a support around 30% and is reversing up.



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