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PRE US OPEN, Daily Technical Analysis, 17 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: rebound. |
Pivot: 1.413
Most Likely Scenario: Long positions above 1.413 with targets @ 1.4265 & 1.4325 in extension.
Alternative scenario: Below 1.413 look for further downside with 1.4065 & 1.4025 as targets.
Comment: the pair is breaking above its resistance, the RSI is supported by a rising trend line.
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GBP/USD intraday: under pressure. |
Pivot: 1.6175
Most Likely Scenario: Short positions below 1.6175 with targets @ 1.61 & 1.6075 in extension.
Alternative scenario: Above 1.6175 look for further upside with 1.6225 & 1.6285 as targets.
Comment: the pair stands below its resistance, the RSI is mixed to bearish.
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USD/JPY intraday: under pressure. |
Pivot: 80.7
Most Likely Scenario: Short positions below 80.7 with targets @ 80.25 & 80.05 in extension.
Alternative scenario: Above 80.7 look for further upside with 80.9 & 81.1 as targets.
Comment: the RSI is capped by a declining trend line, the pair is breaking below its support and should face further down move.
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AUD/USD intraday: rebound. |
Pivot: 1.051
Most Likely Scenario: Long positions above 1.051 with targets @ 1.0625 & 1.065 in extension.
Alternative scenario: Below 1.051 look for further downside with 1.0475 & 1.044 as targets.
Comment: the RSI calls for a rebound.
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GOLD (Spot) intraday: the downside prevails. |
Pivot: 1535.00
Most Likely Scenario: SHORT positions below 1535 with 1520 & 1514 as next targets.
Alternative scenario: The upside penetration of 1535 will call for 1545 & 1550.
Comment: the upward potential is likely to be limited by the resistance area around 1532 (50% retracement level).
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Crude Oil (Aug 11) intraday: key ST resistance at 96.2 |
Pivot: 96.20
Most Likely Scenario: SHORT positions below 96.2 with 92.52 & 91.75 in sight.
Alternative scenario: The upside penetration of 96.2 will call for 97.1 & 97.73.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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