Forex Trend Prediction July 31, 2013
EUR/USD 31/7/2013
1 week Trend: (=) 1 month Trend: (=)
EUR/USD intraday: under pressure.
Pivot: 1.33
Our preference: Short positions below 1.33 with targets @ 1.3235 & 1.321 in extension.
Alternative scenario: Above 1.33 look for further upside with 1.3335 & 1.337 as targets.
Comment: the pair is rebounding but stands below its resistance.
Key levels
1.337
1.3335
1.33
1.328 last
1.3235
1.321
1.3175
EUR/GBP 31/7/2013
1 week Trend: (=) 1 month Trend: (=)
EUR/GBP intraday: further advance.
Pivot: 0.8675
Our preference: Long positions above 0.8675 with targets @ 0.874 & 0.876 in extension.
Alternative scenario: Below 0.8675 look for further downside with 0.8655 & 0.8625 as targets.
Comment: the pair has broken above its resistance and should post further advance.
Key levels
0.879
0.876
0.874
0.87298 last
0.8675
0.8655
0.8625
Gold 31/7/2013
1 week Trend: (=) 1 month Trend: (=)
Gold MT: the downside prevails.
Pivot: 1365.
Our Preference: Bearish below 1365 with targets @ 1180 & 1080 in extension.
Alternative scenario: An upside breakout of 1365 would open the way towards 1550.
Comment: as long as 1365 is resistance, look for choppy price action with a bearish bias.
Trend: ST Ltd downside; MT Bearish, we have been bearish since 21 DEC 2012 (1667).
Key levels Comment
1550 Horizontal resistance
1488 Horizontal resistance
1365 Pivot point
1333 Last
1180 Horizontal support
1080 Horizontal support
1000 Horizontal support
Technical Analysis – Time MetaTrader4
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