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PRE US OPEN, Daily Technical analysis, 30 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: 1.4425
Most Likely Scenario: Long positions above 1.4425 with targets @ 1.4525 & 1.455 in extension.
Alternative scenario: Below 1.4425 look for further downside with 1.4375 & 1.4325 as targets.
Comment: The pair is pulling back on its new support but remains within a bullish channel, the RSI is supported by a rising trend line.
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GBP/USD intraday: under pressure. |
Pivot: 1.605
Most Likely Scenario: Short positions below 1.605 with targets @ 1.595 & 1.591 in extension.
Alternative scenario: Above 1.605 look for further upside with 1.609 & 1.6125 as targets.
Comment: The RSI has broken below a rising trend line, the pair remains under pressure and should face further weakness.
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USD/JPY intraday: under pressure. |
Pivot: 80.7
Most Likely Scenario: Short positions below 80.7 with targets @ 80.25 & 80.1 in extension.
Alternative scenario: Above 80.7 look for further upside with 81 & 81.3 as targets.
Comment: The pair remains under pressure and is challenging its support.
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AUD/USD intraday: watch 1.078. |
Pivot: 1.065
Most Likely Scenario: Long positions above 1.065 with targets @ 1.0755 & 1.078 in extension.
Alternative scenario: Below 1.065 look for further downside with 1.06 & 1.055 as targets.
Comment: The pair has broken above its previous high and remains on the upside.
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GOLD (Spot) intraday: the bias remains bullish. |
Pivot: 1506.00
Most Likely Scenario: LONG positions above 1506 with 1514 & 1518 in sight.
Alternative scenario: The downside breakout of 1506 will open the way to 1503 & 1497.
Comment: The RSI is mixed and calls for caution.
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Crude Oil (Aug 11) intraday: the bias remains bullish. |
Pivot: 94.00
Most Likely Scenario: LONG positions above 94 with targets @ 95.75 & 96.7.
Alternative scenario: The downside penetration of 94 will call for a slide towards 92.7 & 91.35.
Comment: The RSI is mixed and calls for caution.
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