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PRE US 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: bounce. |
Pivot: 1.4325
Most Likely Scenario: Long positions above 1.4325 with targets @ 1.4425 & 1.4455 in extension.
Alternative scenario: Below 1.4325 look for further downside with 1.4275 & 1.4235 as targets.
Comment: The pair has broken above its resistance and should post further advance as the RSI remains supported by a rising trend line.
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GBP/USD intraday: the upside prevails. |
Pivot: 1.596
Most Likely Scenario: Long positions above 1.596 with targets @ 1.6045 & 1.6075 in extension.
Alternative scenario: Below 1.596 look for further downside with 1.5915 & 1.5885 as targets.
Comment: The pair stands above its support, the RSI is mixed to bullish.
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USD/JPY intraday: the upside prevails. |
Pivot: 80.85
Most Likely Scenario: Long positions above 80.85 with targets @ 81.3 & 81.55 in extension.
Alternative scenario: Below 80.85 look for further downside with 80.7 & 80.5 as targets.
Comment: The pair remains on the upside as the RSI is supported by a rising trend line.
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AUD/USD intraday: the upside prevails. |
Pivot: 1.0545
Most Likely Scenario: Long positions above 1.0545 with targets @ 1.062 & 1.065 in extension.
Alternative scenario: Below 1.0545 look for further downside with 1.05 & 1.0475 as targets.
Comment: The pair has broken above its channel upper boundary and remains on the upside.
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GOLD (Spot) intraday: further advance. |
Pivot: 1497.00
Most Likely Scenario: LONG positions above 1497 with 1511 & 1518 as next targets.
Alternative scenario: The downside breakout of 1497 will open the way to 1490 & 1479.5.
Comment: Moving averages are turning up and should offer support on any downward attempt.
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Crude Oil (Aug 11) intraday: the upside prevails. |
Pivot: 91.25
Most Likely Scenario: LONG positions above 91.25 with 94.45 & 95.75 as next targets.
Alternative scenario: The downside penetration of 91.25 will call for a slide towards 89.9 & 88.7.
Comment: Intraday support area at 92.3
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