Tuesday, November 18, 2008

EUR/USD intraday: under pressure.

Pivot: 1.27
Our preference: Short positions below 1.27 with targets @ 1.253 & 1.245 in extension.
Alternative scenario: Above 1.27 look for further upside with 1.2775 & 1.28 as targets.
Comments: The pair is currently drawing a pullback towards is former bullish channel support & remains capped by a declining trend line.

USD/JPY intraday: limited upside.
Pivot: 96.2
Our preference: Long positions above 96.2 with targets @ 97 & 97.25 in extension.
Alternative scenario: Below 96.2 look for further downside with 96 & 95.5 as targets.
Comment: the RSI is supported by a bullish trend line.

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