PRE US OPEN, Daily Technical analysis, 10 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: under pressure. |
Pivot: 1.451
Most Likely Scenario: Short positions below 1.451 with targets @ 1.444 & 1.44 in extension.
Alternative scenario: Above 1.451 look for further upside with 1.455 & 1.46 as targets.
Comment: The pair stands below its new resistance and remains under pressure. |
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USD/JPY intraday: rebound. |
Pivot: 80
Most Likely Scenario: Long positions above 80 with targets @ 80.3 & 80.55 in extension.
Alternative scenario: Below 80 look for further downside with 79.85 & 79.6 as targets.
Comment: The pair is posting a rebound on its support as the RSI is turning up. |
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AUD/USD intraday: under pressure. |
Pivot: 1.065
Most Likely Scenario: Short positions below 1.065 with targets @ 1.058 & 1.056 in extension.
Alternative scenario: Above 1.065 look for further upside with 1.0675 & 1.072 as targets.
Comment: The pair has posted a rebound but stands below its new resistance. |
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GOLD (Spot) intraday: rebound in sight. |
Pivot: 1536.00
Most Likely Scenario: LONG positions above 1536 with 1550 & 1554 in sight.
Alternative scenario: The downside breakout of 1536 will open the way to 1531 & 1525.
Comment: The price is supported by a bullish trend line and the bullish flag pattern remains valid. |
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Crude Oil (Jul 11) intraday: the bias remains bullish. |
Pivot: 100.45
Most Likely Scenario: LONG positions above 100.45 with 102.45 & 103.25 in sight.
Alternative scenario: The downside penetration of 100.45 will call for a slide towards 99.8 & 98.8.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. |
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