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PRE EUROPEAN OPEN, Daily Technical analysis, 29 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: 1.4325.
Most Likely Scenario: LONG positions above 1.4325 with 1.44 & 1.4455 in sight.
Alternative scenario: The downside penetration of 1.4325 will call for a slide towards 1.4275 & 1.4235.
Comment: The RSI is supported by a rising trend line, the pair stands above its support and remains on the upside.
Trend: ST Ltd Upside; MT Range
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GBP/USD intraday: intraday support around 1.596 |
Pivot: 1.5960.
Most Likely Scenario: LONG positions above 1.596 with 1.6045 & 1.6075 in sight.
Alternative scenario: The downside penetration of 1.596 will call for 1.5915 & 1.5885.
Comment: The pair stands above its support but lacks upward momentum.
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USD/JPY intraday: the upside prevails. |
Pivot: 80.85.
Most Likely Scenario: LONG positions above 80.85 with 81.3 & 81.55 in sight.
Alternative scenario: The downside penetration of 80.85 will call for a slide towards 80.7 & 80.5.
Comment: The pair stands above its support and remains on the upside.
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AUD/USD intraday: the upside prevails. |
Pivot: 1.05
Most Likely Scenario: Long positions above 1.05 with targets @ 1.0575 & 1.0605 in extension.
Alternative scenario: Below 1.05 look for further downside with 1.0475 & 1.0435 as targets.
Comment: The pair is breaking above its channel upper boundary and remains on the upside.
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GOLD (Spot) intraday: the bias remains bullish. |
Pivot: 1490.00
Most Likely Scenario: LONG positions above 1490 with 1511 & 1518 in sight.
Alternative scenario: The downside breakout of 1490 will open the way to 1479.5 & 1462.
Comment: The RSI is supported by a bullish trend line. Moving averages are heading up.
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Crude Oil (Aug 11) intraday: further upside. |
Pivot: 89.90
Most Likely Scenario: LONG positions above 89.9 with 94.45 & 95.75 in sight.
Alternative scenario: The downside breakout of 89.9 will open the way to 88.7 & 87.
Comment: The RSI is bullish and calls for further advance.
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