PRE EUROPEAN OPEN, Daily Technical Analysis, 13 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: 1.4425.
Most Likely Scenario: SHORT positions @ 1.4415 with targets @ 1.431 & 1.425.
Alternative scenario: The upside penetration of 1.4425 will call for a rebound towards 1.45 & 1.455.
Comment: the RSI remains capped by a declining trend line, the pair remains under pressure and is approaching its support.
Trend: ST Ltd Upside; MT Range |
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GBP/USD intraday: under pressure. |
Pivot: 1.6285.
Most Likely Scenario: SHORT positions @ 1.6275 with 1.62 & 1.617 in sight.
Alternative scenario: The upside breakout of 1.6285 will open the way to 1.6325 & 1.6365.
Comment: the pair remains on the downside and is challenging its support. |
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USD/JPY intraday: further advance. |
Pivot: 80.25.
Most Likely Scenario: LONG positions @ 80.3 with 80.7 & 80.9 in sight.
Alternative scenario: The downside penetration of 80.25 will call for 80 & 79.85.
Comment: the pair has broken above its resistance and remains on the upside. |
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AUD/USD intraday: under pressure. |
Pivot: 1.061
Most Likely Scenario: Short positions below 1.061 with targets @ 1.0475 & 1.044 in extension.
Alternative scenario: Above 1.061 look for further upside with 1.0655 & 1.07 as targets.
Comment: the RSI is below its neutrality area at 50% |
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GOLD (Spot) intraday: key ST resistance at 1539 |
Pivot: 1539.00
Most Likely Scenario: SHORT positions below 1539 with 1525 & 1520 as next targets.
Alternative scenario: The upside penetration of 1539 will call for 1545 & 1550.
Comment: the immediate trend remains up but the momentum is weak. |
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Crude Oil (Jul 11) intraday: the downside prevails. |
Pivot: 100.45
Most Likely Scenario: SHORT positions below 100.45 with 97.75 & 96.35 in sight.
Alternative scenario: The upside penetration of 100.45 will call for a rebound towards 101.6 & 102.45.
Comment: the price has pushed below support levels. |
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