PRE EUROPEAN OPEN, Daily Technical analysis, 14 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: 1.4365.
Most Likely Scenario: LONG positions @ 1.4375 with targets @ 1.45 & 1.4555.
Alternative scenario: The downside penetration of 1.4365 will call for a slide towards 1.432 & 1.425.
Comment: The RSI well directed, the pair is on the upside and should post further advance.
Trend: ST Ltd Upside; MT Range
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GBP/USD intraday: the upside prevails. |
Pivot: 1.6350.
Most Likely Scenario: LONG positions @ 1.636 with 1.645 & 1.6475 as next targets.
Alternative scenario: The downside penetration of 1.635 will call for a slide towards 1.6315 & 1.628.
Comment: The RSI is supported by a rising trend line, the pair remains on the upside.
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USD/JPY intraday: under pressure. |
Pivot: 80.50.
Most Likely Scenario: SHORT positions @ 80.45 with targets @ 80 & 79.85.
Alternative scenario: The upside penetration of 80.5 will call for 80.7 & 80.9.
Comment: The pair is posting a rebound but stands below its new resistance.
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AUD/USD intraday: rebound. |
Pivot: 1.0575
Most Likely Scenario: Long positions above 1.0575 with targets @ 1.065 & 1.07 in extension.
Alternative scenario: Below 1.0575 look for further downside with 1.0525 & 1.0475 as targets.
Comment: The RSI is mixed with a bullish bias.
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GOLD (Spot) intraday: key ST resistance at 1531 |
Pivot: 1531.00
Most Likely Scenario: SHORT positions below 1531 with 1512 & 1505 in sight.
Alternative scenario: The upside breakout of 1531 will open the way to 1537 & 1545.
Comment: The immediate trend remains up but the momentum is weak.
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Crude Oil (Jul 11) intraday: under pressure. |
Pivot: 99.30
Most Likely Scenario: SHORT positions below 99.3 with targets @ 96.15 & 95.55.
Alternative scenario: The upside breakout of 99.3 will open the way to 100.45 & 100.9.
Comment: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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