Forex Trading Signals Today 31 Oct. 2012

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Below are latest forex trading signals for today 31 oct. 2012 provided by forex professionals to guide you to experience more profitable forex trading.
EUR/USD intraday: the upside prevails.

 

Pivot: 1.2920.Our preference: LONG positions @ 1.293 with 1.299 & 1.302 in sight.Alternative scenario: The downside penetration of 1.292 will call for a slide towards 1.288 & 1.286.

Comment: the pair has broken above a declining trend line and remains on the upside.

GBP/USD intraday: the upside prevails.

Pivot: 1.6050.Our preference: LONG positions @ 1.606 with 1.609 & 1.611 in sight.Alternative scenario: The downside penetration of 1.605 will call for 1.6035 & 1.6015.

Comment: the pair remains on the upside and is approaching its resistance.

USD/JPY intraday: key ST resistance at 79.75

Pivot: 79.75.Our preference: SHORT positions below 79.75 with targets @ 79.3 & 79.2.Alternative scenario: The upside penetration of 79.75 will call for 79.9 & 80.1.

Comment: the pair stands below its resistance and remains under pressure.

EUR/JPY intraday: bullish bias above 102.85.

Pivot: 102.85

Our preference: Long positions above 102.85 with targets @ 103.4 & 103.65 in extension.

Alternative scenario: Below 102.85 look for further downside with 102.55 & 102.25 as targets.

Comment: the RSI is around its neutrality area at 50%

source : forex trading signals 31 oct 2012

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