Daily Forex Brief 04h October
Daily Forex Brief With no fresh inspiration arising from the latest meeting of eurozone finance ministers and Luxembourg's Prime Minister Jean-Claude Juncker suggesting that the troika will not complete their assessment on whetherGreece has satisfied the conditions for the next tranche of bailout money until mid-November, the euro was under fresh assault yesterday. Indeed, yesterday was a truly dreadful day for the single currency ? it fell from near 1.34 near the middle of the London session to a low of 1.3165 early in Asian trading. Rumours (subsequently denied) were swirling around yesterday claiming that Greek Prime Minister Papandreou had offered to resign. And Didier Reynders, Belgium's finance minister, intimated that Greece has enough money to survive for another six weeks. Not surprisingly, the repulsion for risk has continued overnight, with the dollar in hot demand, and both equities and bond yields under further downward pressure. The S&P 500 ended down nearly 3% at 1,099, a 13m low, while the Kospi was suspended for a time overnight after a 5% decline. Also in today's Daily Forex Brief:
London: Tuesday 4th October 2011
Greek aid delay adds to uncertainty
تحلیل جفت ارزها - 04th Oct
PRE EUROPEAN OPEN, DAILY TECHNICAL ANALYSIS, 04 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: THE DOWNSIDE PREVAILS. Pivot: 1.3300.
Most Likely Scenario: SHORT positions @ 1.329 with 1.315 & 1.31 in sight.
Alternative scenario: The upside penetration of 1.33 will call for a rebound towards 1.3375 & 1.3465.
Comment: The RSI is capped by a declining trend line, the pair has broken below its previous low and remains under pressure.
Trend: ST Consolidation; MT Bearish
NEXT » GBP/USD INTRADAY: UNDER PRESSURE. Pivot: 1.5525.
Most Likely Scenario: SHORT positions @ 1.5515 with targets @ 1.5385 & 1.533.
Alternative scenario: The upside penetration of 1.5525 will call for a rebound towards 1.5575 & 1.562.
Comment: The pair remains under pressure and is approaching its support as the RSI is capped by a declining trend line.
« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 76.90.
Most Likely Scenario: SHORT positions below 76.9 with targets @ 76.5 & 76.3.
Alternative scenario: The upside breakout of 76.9 will open the way to 77.1 & 77.3.
Comment: The pair remains under pressure, the RSI is mixed to bearish.
« PREVIOUS | NEXT » AUD/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE. Pivot: 0.96
Most Likely Scenario: Short positions below 0.96 with targets @ 0.9415 & 0.933 in extension.
Alternative scenario: Above 0.96 look for further upside with 0.97 & 0.981 as targets.
Comment: The RSI is capped by a declining trend line.
« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: THE BIAS REMAINS BULLISH. Pivot: 1635.00
Most Likely Scenario: LONG positions above 1635 with targets @ 1690 & 1720.
Alternative scenario: The downside breakout of 1635 will open the way to 1590 & 1555.
Comment: The RSI is supported by a rising trend line.
« PREVIOUS | NEXT » CRUDE OIL (NOV 11) INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 78.65
Most Likely Scenario: SHORT positions below 78.65 with targets @ 75 & 73.7.
Alternative scenario: The upside penetration of 78.65 will call for a rebound towards 81.5 & 84.
Comment: The price stands within a bearish channel.
تحلیل جفت ارزها - 03rd Oct سری دوم
PRE US OPEN, DAILY TECHNICAL ANALYSIS, 03 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: 1.341
Most Likely Scenario: Short positions below 1.341 with targets @ 1.331 & 1.326 in extension.
Alternative scenario: Above 1.341 look for further upside with 1.3465 & 1.3525 as targets.
Comment: The pair is posting a rebound but stands below its new resistance.
NEXT » GBP/USD INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 1.56
Most Likely Scenario: Short positions below 1.56 with targets @ 1.549 & 1.5445 in extension.
Alternative scenario: Above 1.56 look for further upside with 1.566 & 1.571 as targets.
Comment: The pair stands below its new resistance and remains under pressure.
« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 77.1
Most Likely Scenario: Short positions below 77.1 with targets @ 76.7 & 76.5 in extension.
Alternative scenario: Above 77.1 look for further upside with 77.3 & 77.6 as targets.
Comment: The pair is under pressure and is challenging its support.
« PREVIOUS | NEXT » AUD/USD INTRADAY: KEY ST RESISTANCE AT 0.976. Pivot: 0.976
Most Likely Scenario: Short positions below 0.976 with targets @ 0.9575 & 0.95 in extension.
Alternative scenario: Above 0.976 look for further upside with 0.981 & 0.9875 as targets.
Comment: The RSI is capped by a declining trend line.
« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: THE BIAS REMAINS BULLISH. Pivot: 1627.00
Most Likely Scenario: LONG positions above 1627 with 1670 & 1690 in sight.
Alternative scenario: The downside penetration of 1627 will call for 1590 & 1555.
Comment: The RSI advocates for further upside.
« PREVIOUS | NEXT » CRUDE OIL (NOV 11) INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 79.70
Most Likely Scenario: SHORT positions below 79.7 with 77.4 & 76.5 in sight.
Alternative scenario: The upside penetration of 79.7 will call for a rebound towards 81.5 & 84.
Comment: The upward potential is likely to be limited by the resistance at 79.7.