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PRE US OPEN, Daily Technical analysis, 01 July 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: 1.445
Most Likely Scenario: Long positions above 1.445 with targets @ 1.455 & 1.46 in extension.
Alternative scenario: Below 1.445 look for further downside with 1.4375 & 1.4325 as targets.
Comment: The pair remains within a bullish channel. |
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GBP/USD intraday: caution. |
Pivot: 1.599
Most Likely Scenario: Long positions above 1.599 with targets @ 1.605 & 1.6125 in extension.
Alternative scenario: Below 1.599 look for further downside with 1.595 & 1.591 as targets.
Comment: The pair is challenging its new support, the RSI is mixed and calls for caution. |
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USD/JPY intraday: rebound. |
Pivot: 80.4
Most Likely Scenario: Long positions above 80.4 with targets @ 80.9 & 81 in extension.
Alternative scenario: Below 80.4 look for further downside with 80.25 & 80.1 as targets.
Comment: The pair is rebounding on its support as the RSI is turning up. |
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AUD/USD intraday: the upside prevails. |
Pivot: 1.0665
Most Likely Scenario: Long positions above 1.0665 with targets @ 1.0755 & 1.078 in extension.
Alternative scenario: Below 1.0665 look for further downside with 1.0615 & 1.0575 as targets.
Comment: The pair is challenging its bullish flag upper boundary. |
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GOLD (Spot) intraday: under pressure. |
Pivot: 1502.00
Most Likely Scenario: SHORT positions below 1502 with 1490 & 1480 in sight.
Alternative scenario: The upside penetration of 1502 will call for a rebound towards 1508 & 1515.
Comment: The RSI is capped by a declining trend line. |
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Crude Oil (Aug 11) intraday: tentative rebound. |
Pivot: 93.90
Most Likely Scenario: LONG positions above 93.9 with targets @ 95.75 & 96.7.
Alternative scenario: The downside penetration of 93.9 will call for 92.7 & 91.35.
Comment: The RSI is challenging its bearish trend line. |
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