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PRE US 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: rebound expected. |
Pivot: 1.4235
Most Likely Scenario: Long positions above 1.4235 with targets @ 1.4325 & 1.4355 in extension.
Alternative scenario: Below 1.4235 look for further downside with 1.42 & 1.416 as targets.
Comment: The pair has struck against its resistance and is pulling back on its support ahead of a rebound.
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GBP/USD intraday: rebound expected. |
Pivot: 1.5915
Most Likely Scenario: Long positions above 1.5915 with targets @ 1.601 & 1.604 in extension.
Alternative scenario: Below 1.5915 look for further downside with 1.5885 & 1.5825 as targets.
Comment: The pair stands above its support and should post a rebound.
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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 in extension.
Alternative scenario: Below 80.65 look for further downside with 80.5 & 80.35 as targets.
Comment: The pair is rebounding on its support as the RSI remains supported by a MT rising trend line.
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AUD/USD intraday: intraday support around 1.0425. |
Pivot: 1.0425
Most Likely Scenario: Long positions above 1.0425 with targets @ 1.0485 & 1.052 in extension.
Alternative scenario: Below 1.0425 look for further downside with 1.039 & 1.036 as targets.
Comment: The pair is pulling back on its support ahead of a rebound.
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GOLD (Spot) intraday: bullish bias above 1490 |
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 1479.5 & 1462.
Comment: The RSI is supported by a bullish trend line.
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Crude Oil (Aug 11) intraday: bounce. |
Pivot: 88.70
Most Likely Scenario: LONG positions above 88.7 with 92 & 92.68 as next targets.
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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