PRE US OPEN, Daily Technical Analysis, 09 June 2011 |
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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. |
EUR/USD intraday: the upside prevails. |
Pivot: 1.4555
Most Likely Scenario: Long positions above 1.4555 with targets @ 1.465 & 1.47 in extension.
Alternative scenario: Below 1.4555 look for further downside with 1.452 & 1.445 as targets.
Comment: the pair has struck against its resistance and is facing a pull back ahead of further advance. |
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GBP/USD intraday: the upside prevails. |
Pivot: 1.64
Most Likely Scenario: Long positions above 1.64 with targets @ 1.647 & 1.65 in extension.
Alternative scenario: Below 1.64 look for further downside with 1.6375 & 1.635 as targets.
Comment: the pair has struck against its resistance and is pulling back on its new support. |
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USD/JPY intraday: the upside prevails. |
Pivot: 79.85
Most Likely Scenario: Long positions above 79.85 with targets @ 80.4 & 80.7 in extension.
Alternative scenario: Below 79.85 look for further downside with 79.6 & 79.45 as targets.
Comment: the pair is pulling back on its support ahead of a rebound. |
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AUD/USD intraday: the downside prevails. |
Pivot: 1.065
Most Likely Scenario: Short positions below 1.065 with targets @ 1.056 & 1.0545 in extension.
Alternative scenario: Above 1.065 look for further upside with 1.0685 & 1.072 as targets.
Comment: the pair is under pressure and is challenging its support. |
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GOLD (Spot) intraday: the downside prevails. |
Pivot: 1542.00
Most Likely Scenario: SHORT positions below 1542 with 1530 & 1525 in sight.
Alternative scenario: The upside penetration of 1542 will call for 1547 & 1553.
Comment: the price stands within a declining channel. |
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Crude Oil (Jul 11) intraday: bullish bias above 99.8 |
Pivot: 99.80
Most Likely Scenario: LONG positions above 99.8 with targets @ 101.8 & 102.9.
Alternative scenario: The downside penetration of 99.8 will call for 98.7 & 97.85.
Comment: the RSI is supported by a bullish trend line. |
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