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PRE US 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: supported by a rising trend line. |
Pivot: 1.4325
Most Likely Scenario: Long positions above 1.4325 with targets @ 1.4435 & 1.45 in extension.
Alternative scenario: Below 1.4325 look for further downside with 1.429 & 1.425 as targets.
Comment: the RSI is supported by a rising trend line, the pair remains within a bullish channel.
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GBP/USD intraday: under pressure. |
Pivot: 1.62
Most Likely Scenario: Short positions below 1.62 with targets @ 1.611 & 1.6075 in extension.
Alternative scenario: Above 1.62 look for further upside with 1.623 & 1.626 as targets.
Comment: the RSI is badly directed, the pair has broken below its support and remains under pressure.
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USD/JPY intraday: the downside prevails. |
Pivot: 80.4
Most Likely Scenario: Short positions below 80.4 with targets @ 80 & 79.9 in extension.
Alternative scenario: Above 80.4 look for further upside with 80.5 & 80.7 as targets.
Comment: the pair has struck against its resistance and remains under pressure.
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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: turning down |
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 a rebound towards 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 breakout of 95.05 will open the way to 96 & 97.18.
Comment: the price has struck against a challenging resistance area at 95.05.
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