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PRE EUROPEAN OPEN, Daily Technical analysis, 28 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: 1.4235.
Most Likely Scenario: LONG positions above 1.4235 with targets @ 1.4355 & 1.4425.
Alternative scenario: The downside penetration of 1.4235 will call for 1.42 & 1.416.
Comment: The pair has broken above its declining trend line and remains on the upside.
Trend: ST Ltd Upside; MT Range
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GBP/USD intraday: caution. |
Pivot: 1.5915.
Most Likely Scenario: LONG positions above 1.5915 with 1.601 & 1.604 in sight.
Alternative scenario: The downside breakout of 1.5915 will open the way to 1.5885 & 1.5825.
Comment: The pair stands above its support but lacks upward momentum.
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USD/JPY intraday: the upside prevails. |
Pivot: 80.65.
Most Likely Scenario: LONG positions above 80.65 with targets @ 81 & 81.1.
Alternative scenario: The downside penetration of 80.65 will call for 80.5 & 80.35.
Comment: The pair stands above its support and remains on the upside.
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AUD/USD intraday: under pressure. |
Pivot: 1.0485
Most Likely Scenario: Short positions below 1.0485 with targets @ 1.0425 & 1.039 in extension.
Alternative scenario: Above 1.0485 look for further upside with 1.052 & 1.055 as targets.
Comment: The pair is posting a rebound but stands below its resistance, caution.
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GOLD (Spot) intraday: tentative rebound. |
Pivot: 1490.00
Most Likely Scenario: LONG positions above 1490 with 1511 & 1518 in sight.
Alternative scenario: The downside penetration of 1490 will call for 1479 & 1462.
Comment: The RSI is supported by a bullish trend line.
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Crude Oil (Aug 11) intraday: rebound. |
Pivot: 88.70
Most Likely Scenario: LONG positions above 88.7 with 92 & 92.68 in sight.
Alternative scenario: The downside penetration of 88.7 will call for a slide towards 87 & 85.5.
Comment: The price holds above its support threshold at 89.9.
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