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PRE US OPEN, Daily Technical analysis, 24 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: 1.423
Most Likely Scenario: Long positions above 1.423 with targets @ 1.4345 & 1.438 in extension.
Alternative scenario: Below 1.423 look for further downside with 1.419 & 1.4125 as targets.
Comment: The RSI is bullish and calls for further advance.
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GBP/USD intraday: continuation of the rebound. |
Pivot: 1.598
Most Likely Scenario: Long positions above 1.598 with targets @ 1.6075 & 1.611 in extension.
Alternative scenario: Below 1.598 look for further downside with 1.5935 & 1.5885 as targets.
Comment: The price remains on the upside and is breaking through its resistance.
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USD/JPY intraday: the downside prevails. |
Pivot: 80.4
Most Likely Scenario: Short positions below 80.4 with targets @ 80.15 & 80 in extension.
Alternative scenario: Above 80.4 look for further upside with 80.55 & 80.65 as targets.
Comment: The RSI is capped by a bearish trend line.
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AUD/USD intraday: continuation of the rebound. |
Pivot: 1.053
Most Likely Scenario: Long positions above 1.053 with targets @ 1.0615 & 1.065 in extension.
Alternative scenario: Below 1.053 look for further downside with 1.0505 & 1.0455 as targets.
Comment: A bullish flag pattern is confirmed, calling further upside.
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GOLD (Spot) intraday: the downside prevails. |
Pivot: 1535.15
Most Likely Scenario: SHORT positions below 1535.15 with 1511 & 1500 in sight.
Alternative scenario: The upside penetration of 1535.15 will call for 1541 & 1547.
Comment: The RSI lacks upward momentum.
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Crude Oil (Aug 11) intraday: the downside prevails. |
Pivot: 93.35
Most Likely Scenario: SHORT positions below 93.35 with targets @ 90 & 88.7.
Alternative scenario: The upside breakout of 93.35 will open the way to 94.8 & 95.7.
Comment: The contract currently faces a challenging resistance area around 93.
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