Thursday, November 20, 2008

EUR/USD intraday: key ST resistance at 1.27.

Pivot: 1.27
Our preference: Short positions below 1.27 with targets @ 1.25751 & 1.253 in extension.
Alternative scenario: Above 1.27 look for further upside with 1.28 & 1.285 as targets.
Comments: The pair remains below a short-term declining trend line.

GBP/USD intraday: key ST resistance at 1.51.
Pivot: 1.51
Our preference: Short positions below 1.51 with targets @ 1.495 & 1.4895 in extension.
Alternative scenario: Above 1.51 look for further upside with 1.522 & 1.5375 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.51.

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