EUR/USD USD/JPY GBP/USD Daily Outlook: October 31, 2012
Deltastock | Oct 31, 2012 07:30AM ET
EUR/USD
Today's slide to 1.2946 within the corrective pattern below 1.2983 was a retest of the already broken descending trend line from 1.3139 peak and my outlook here is bullish, for a test and later on a break through 1.3022 crucial area, en rote to 1.3085 and 1.3170. Initial support is projected at 1.2967 and crucial on the downside is 1.2946 low.
USD/JPY
The intraday bias is slightly positive above 79.52 support area, but the minor downtrend since 80.38 high is still intact with a crucial level at 80.10. My intraday outlook here is rather neutral.
GBP/USD
The bias here is positive above 1.6058 support and I expect an upmove for a break through 1.6145 resistance, towards 1.6308 high. Crucial on the downside is 1.6058.
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