PRE US OPEN, DAILY TECHNICAL ANALYSIS, 18 OCTOBER 2011 EUR/USD GBP/USD USD/JPY AUD/USD GOLD CRUDE OIL Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out. EUR/USD INTRADAY: UNDER PRESSURE. Pivot: 1.379
Most Likely Scenario: Short positions below 1.379 with targets @ 1.3615 & 1.3575 in extension.
Alternative scenario: Above 1.379 look for further upside with 1.383 & 1.39 as targets.
Comment: The pair has broken below its support and remains under pressure.NEXT » GBP/USD INTRADAY: UNDER PRESSURE. Pivot: 1.5785
Most Likely Scenario: Short positions below 1.5785 with targets @ 1.567 & 1.562 in extension.
Alternative scenario: Above 1.5785 look for further upside with 1.5825 & 1.5855 as targets.
Comment: The pair is under pressure and is breaking below its support.« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 77
Most Likely Scenario: Short positions below 77 with targets @ 76.6 & 76.4 in extension.
Alternative scenario: Above 77 look for further upside with 77.2 & 77.5 as targets.
Comment: The pair is under pressure and is challenging its support.« PREVIOUS | NEXT » AUD/USD INTRADAY: UNDER PRESSURE. Pivot: 1.0225
Most Likely Scenario: Short positions below 1.0225 with targets @ 1.01 & 1.002 in extension.
Alternative scenario: Above 1.0225 look for further upside with 1.0285 & 1.0375 as targets.
Comment: The RSI is capped by a declining trend line.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 1675.00
Most Likely Scenario: SHORT positions below 1675 with 1653 & 1646 as next targets.
Alternative scenario: The upside penetration of 1675 will call for 1683 & 1695.
Comment: The price has broken below a bullish channel support.« PREVIOUS | NEXT » CRUDE OIL (DEC 11) INTRADAY: KEY ST RESISTANCE AT 86.75 Pivot: 86.75
Most Likely Scenario: SHORT positions below 86.75 with targets @ 85.5 & 85.
Alternative scenario: The upside breakout of 86.75 will open the way to 87.85 & 88.4.
Comment: The break below 86.75 is a negative signal that has opened a path to 85.5.
PRE US OPEN, DAILY TECHNICAL ANALYSIS, 17 OCTOBER 2011 EUR/USD GBP/USD USD/JPY AUD/USD GOLD CRUDE OIL Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out. EUR/USD INTRADAY: SUPPORTED BY A RISING TREND LINE. Pivot: 1.38
Most Likely Scenario: Long positions above 1.38 with targets @ 1.39 & 1.394 in extension.
Alternative scenario: Below 1.38 look for further downside with 1.375 & 1.3725 as targets.
Comment: the pair has struck against its resistance and is pulling back on its rising trend line.NEXT » GBP/USD INTRADAY: TURNING DOWN. Pivot: 1.5825
Most Likely Scenario: Short positions below 1.5825 with targets @ 1.572 & 1.567 in extension.
Alternative scenario: Above 1.5825 look for further upside with 1.5855 & 1.591 as targets.
Comment: the pair is breaking below its MT rising trend line and should face further weakness.« PREVIOUS | NEXT » USD/JPY INTRADAY: THE UPSIDE PREVAILS. Pivot: 77
Most Likely Scenario: Long positions above 77 with targets @ 77.5 & 77.7 in extension.
Alternative scenario: Below 77 look for further downside with 76.75 & 76.6 as targets.
Comment: the pair has rebounded on its support and is challenging its resistance.« PREVIOUS | NEXT » AUD/USD INTRADAY: BULLISH BIAS ABOVE 1.02. Pivot: 1.02
Most Likely Scenario: Long positions above 1.02 with targets @ 1.039 & 1.053 in extension.
Alternative scenario: Below 1.02 look for further downside with 1.01 & 1.002 as targets.
Comment: the RSI is supported by a rising trend line.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: FURTHER UPSIDE. Pivot: 1670.00
Most Likely Scenario: LONG positions above 1670 with 1715 & 1737 as next targets.
Alternative scenario: The downside penetration of 1670 will call for a slide towards 1661 & 1654.
Comment: the price remains in a bullish channel.« PREVIOUS | NEXT » CRUDE OIL (DEC 11) INTRADAY: THE BIAS REMAINS BULLISH. Pivot: 86.40
Most Likely Scenario: LONG positions above 86.4 with 88.85 & 89.85 as next targets.
Alternative scenario: The downside breakout of 86.4 will open the way to 85.5 & 85.
Comment: the break above 86.4 is a positive signal that has opened a path to 88.85.
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Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out. | |||||||||||||||||||||||||||||||
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