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PRE EUROPEAN OPEN, Daily Technical analysis, 21 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: further advance. |
Pivot: 1.4290.
Most Likely Scenario: LONG positions @ 1.43 with 1.44 & 1.445 as next targets.
Alternative scenario: The downside penetration of 1.429 will call for a slide towards 1.424 & 1.418.
Comment: The RSI is well directed, the pair has rebounded on its new support and should post further advance.
Trend: ST Ltd Upside; MT Range
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GBP/USD intraday: rebound. |
Pivot: 1.6170.
Most Likely Scenario: LONG positions @ 1.618 with targets @ 1.626 & 1.6285.
Alternative scenario: The downside penetration of 1.617 will call for 1.615 & 1.611.
Comment: The RSI is supported by a rising trend line, the pair has rebounded on its support and remains on the upside.
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USD/JPY intraday: under pressure. |
Pivot: 80.40.
Most Likely Scenario: SHORT positions @ 80.35 with 80 & 79.9 as next targets.
Alternative scenario: The upside penetration of 80.4 will call for 80.5 & 80.7.
Comment: The pair is posting a rebound but stands below its new resistance.
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AUD/USD intraday: limited upside. |
Pivot: 1.051
Most Likely Scenario: Long positions above 1.051 with targets @ 1.0615 & 1.0655 in extension.
Alternative scenario: Below 1.051 look for further downside with 1.0475 & 1.045 as targets.
Comment: The RSI is mixed with a bullish bias.
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GOLD (Spot) intraday: further advance. |
Pivot: 1534.00
Most Likely Scenario: LONG positions above 1534 with 1547 & 1550 as next targets.
Alternative scenario: The downside penetration of 1534 will call for a slide towards 1530 & 1526.
Comment: Intraday support around 1534
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Crude Oil (Aug 11) intraday: the bias remains bullish. |
Pivot: 92.50
Most Likely Scenario: LONG positions above 92.5 with targets @ 94.6 & 95.95.
Alternative scenario: The downside breakout of 92.5 will open the way to 91.4 & 90.25.
Comment: The RSI is bullish and calls for further upside.
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