PRE US 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: intraday support around 1.431. |
Pivot: 1.431
Most Likely Scenario: Long positions above 1.431 with targets @ 1.438 & 1.4425 in extension.
Alternative scenario: Below 1.431 look for further downside with 1.425 & 1.4205 as targets.
Comment: the pair stands above its support and should post a rebound as the RSI is well directed. |
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GBP/USD intraday: rebound expected. |
Pivot: 1.6215
Most Likely Scenario: Long positions above 1.6215 with targets @ 1.6285 & 1.6325 in extension.
Alternative scenario: Below 1.6215 look for further downside with 1.62 & 1.617 as targets.
Comment: the pair has rebounded on its support and is challenging its resistance. |
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USD/JPY intraday: the bias remains bullish. |
Pivot: 80.25
Most Likely Scenario: Long positions above 80.25 with targets @ 80.7 & 80.9 in extension.
Alternative scenario: Below 80.25 look for further downside with 80 & 79.85 as targets.
Comment: the RSI remains supported by a rising trend line, the pair should rebound on its support. |
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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 lacks upward momentum. |
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GOLD (Spot) intraday: the downside prevails. |
Pivot: 1535.50
Most Likely Scenario: SHORT positions below 1535.5 with 1520 & 1516 as next targets.
Alternative scenario: The upside breakout of 1535.5 will open the way to 1545 & 1550.
Comment: the price is breaking through its support threshold. |
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Crude Oil (Jul 11) intraday: key ST resistance at 99.8 |
Pivot: 99.80
Most Likely Scenario: SHORT positions below 99.8 with 97.75 & 96.35 as next targets.
Alternative scenario: The upside penetration of 99.8 will call for 100.45 & 101.6.
Comment: the RSI is mixed with a bearish bias. |
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