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Forex Daily Technical Analysis of Major Currency Pairs Pre US Open
(Date – Oct 31, 2014)
EUR/USD Intraday:
The downside will prevail.
Most Likely Scenario: Expect short positions below 1.2580 with targets @ 1.2529 & 1.2489 in extension.
Alternative scenario: If goes above 1.2580 look for further upside with 1.2620 & 1.2671 as targets.
GBP/USD Intraday:
The downside will prevail.
Most Likely Scenario: Short positions below 1.6042 with targets @ 1.5954 & 1.5908 in extension.
Alternative scenario: If goes above 1.6042 look for further upside with 1.6084 & 1.6131 as targets.
USD/JPY Intraday:
The upside will prevail.
Most Likely Scenario: Long positions above 110.7 with targets @ 112.6 & 113.6 in extension.
Alternative scenario: If goes below 110.7 look for further downside with 109.7 & 107.8 as targets.
AUD/USD Intraday:
The downside will prevail.
Most Likely Scenario: Short positions below 0.8863 with targets @ 0.8770 & 0.8717 in extension.
Alternative scenario: If goes above 0.8863 look for further upside with 0.8904 & 0.8956 as targets.
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