Intraday Currency Pair Update

Dear traders
Here’s the daily intraday Update for EUR/USD, EUR/GBP and GBP/ USD for Thursday 29th January, 2009 from AVAFX.

EUR/USD intraday: the downside prevails.
Pivot: 1.3210.
Our Preference: SHORT positions @ 1.32 with 1.304 & 1.2975 in sight.
Alternative scenario: The upside breakout of 1.321 will open the way to 1.333 & 1.345.
Comment: the pair has broken below its ST bullish channel lower boundary and remains under pressure, the RSI is turning down.
Trend: ST Ltd Upside; MT Bearish
Key levels Comment
1.345** Intraday resistance
1.333** Intraday resistance
1.321*** Intraday pivot point
1.311 Last
1.304*** Intraday support
1.2975** Intraday support
1.29*** Intraday support


EUR/GBP intraday: rebound expected.
Pivot: 0.92
Our preference: Long positions above 0.92 with targets @ 0.9315 & 0.938 in extension.
Alternative scenario: Below 0.92 look for further downside with 0.9125 & 0.905 as targets.
Comment: the pair is breaking above its declining trend line, the RSI is on the upside.

GBP/USD intraday: under pressure.
Pivot: 1.4255.
Our Preference: SHORT positions @ 1.4245 with targets @ 1.4015 & 1.39.
Alternative scenario: The upside penetration of 1.4255 will call for 1.4375 & 1.455.
Comment: the pair stands within a ST bearish channel, the RSI is on the downside.
Trend: ST Consolidation; MT Bearish
Key levels Comment
1.455** Intraday resistance
1.4375** Intraday resistance
1.4255** Intraday pivot point
1.4129 Last
1.4015*** Intraday support
1.39** Intraday support
1.375*** Intraday support


My site at Multiply Stevenson15
Multiply Forex Group Forexupdates
Visit Google Group Forexupdates