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PRE EUROPEAN OPEN, Daily Technical analysis, 22 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: 1.4325.
Most Likely Scenario: LONG positions @ 1.4335 with targets @ 1.4435 & 1.45.
Alternative scenario: The downside breakout of 1.4325 will open the way to 1.429 & 1.425.
Comment: The RSI is supported by a rising trend line, the pair remains within a bullish channel.
Trend: ST Ltd Upside; MT Range
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GBP/USD intraday: rebound. |
Pivot: 1.6180.
Most Likely Scenario: LONG positions @ 1.619 with 1.626 & 1.6285 as next targets.
Alternative scenario: The downside penetration of 1.618 will call for a slide towards 1.615 & 1.611.
Comment: The pair stands above 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 in sight.
Alternative scenario: The upside breakout of 80.4 will open the way to 80.5 & 80.7.
Comment: The pair is posting a rebound but stands below its new resistance.
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AUD/USD intraday: caution. |
Pivot: 1.056
Most Likely Scenario: Long positions above 1.056 with targets @ 1.0625 & 1.0655 in extension.
Alternative scenario: Below 1.056 look for further downside with 1.053 & 1.05 as targets.
Comment: Intraday technical indicators are mixed and call for caution.
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GOLD (Spot) intraday: the downside prevails. |
Pivot: 1554.00
Most Likely Scenario: SHORT positions below 1554 with 1542 & 1535 as next targets.
Alternative scenario: The upside penetration of 1554 will call for 1560 & 1565.
Comment: The RSI is posting a bearish divergence (not confirmed yet).
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Crude Oil (Aug 11) intraday: under pressure. |
Pivot: 95.05
Most Likely Scenario: SHORT positions below 95.05 with targets @ 92.5 & 91.4.
Alternative scenario: The upside penetration of 95.05 will call for 96 & 97.18.
Comment: The price has struck against a challenging resistance area at 95.05.
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