Tuesday, December 02, 2008

EUR/USD intraday: under pressure

Pivot: 1.2725
Our preference: Short positions below 1.2725 with targets @ 1.2515 & 1.2475 in extension.
Alternative scenario: Above 1.2725 look for further upside with 1.2785 & 1.2825 as targets.
Comments: the RSI has just banged against its neutrality area at 50%.

USD/JPY intraday: under pressure.
Pivot: 94.4
Our preference: Short positions below 94.4 with targets @ 93.5 & 92.9 in extension.
Alternative scenario: Above 94.4 look for further upside with 94.9 & 95.15 as targets.
Comment: the RSI advocates for further decline.

GBP/USD intraday: the downside prevails.
Pivot: 1.5115
Our preference: Short positions below 1.5115 with targets @ 1.485 & 1.4775 in extension.
Alternative scenario: Above 1.5115 look for further upside with 1.5205 & 1.528 as targets.
Comment: the break below 1.5115 is a negative signal that has opened a path to 1.485.

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