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PRE US OPEN, Daily Technical analysis, 27 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: 1.4105
Most Likely Scenario: Long positions above 1.4105 with targets @ 1.425 & 1.431 in extension.
Alternative scenario: Below 1.4105 look for further downside with 1.407 & 1.399 as targets.
Comment: The pair failed to accelerate on the downside and has rebounded on its support, a further up move is likely.
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GBP/USD intraday: rebound. |
Pivot: 1.5915
Most Likely Scenario: Long positions above 1.5915 with targets @ 1.5995 & 1.604 in extension.
Alternative scenario: Below 1.5915 look for further downside with 1.5885 & 1.5825 as targets.
Comment: The pair is posting a rebound and is challenging its resistance.
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USD/JPY intraday: the upside prevails. |
Pivot: 80.5
Most Likely Scenario: Long positions above 80.5 with targets @ 80.95 & 81.1 in extension.
Alternative scenario: Below 80.5 look for further downside with 80.35 & 80.15 as targets.
Comment: The pair has struck against its resistance and is pulling back on its support.
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AUD/USD intraday: caution. |
Pivot: 1.048
Most Likely Scenario: Short positions below 1.048 with targets @ 1.04 & 1.036 in extension.
Alternative scenario: Above 1.048 look for further upside with 1.052 & 1.055 as targets.
Comment: The pair is posting a rebound but stands below its new resistance, the RSI is mixed and calls for caution.
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GOLD (Spot) intraday: rebound. |
Pivot: 1490.00
Most Likely Scenario: LONG positions above 1490 with targets @ 1511 & 1518.
Alternative scenario: The downside breakout of 1490 will open the way to 1479 & 1462.
Comment: The RSI is posting a bullish divergence (not confirmed yet).
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Crude Oil (Aug 11) intraday: bounce. |
Pivot: 88.70
Most Likely Scenario: LONG positions above 88.7 with targets @ 92 & 92.68.
Alternative scenario: The downside penetration of 88.7 will call for 87 & 85.5.
Comment: The price holds above its support threshold at 89.9.
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