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PRE US OPEN, Daily Technical analysis, 07 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: under pressure. |
Pivot: 1.435
Most Likely Scenario: Short positions below 1.435 with targets @ 1.4275 & 1.4245 in extension.
Alternative scenario: Above 1.435 look for further upside with 1.44 & 1.445 as targets.
Comment: The pair has struck against its resistance and remains under pressure.
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GBP/USD intraday: capped by a negative trend line. |
Pivot: 1.6025
Most Likely Scenario: Short positions below 1.6025 with targets @ 1.5935 & 1.591 in extension.
Alternative scenario: Above 1.6025 look for further upside with 1.605 & 1.61 as targets.
Comment: The pair and its intraday RSI remain capped by declining trend lines.
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USD/JPY intraday: under pressure. |
Pivot: 81.1
Most Likely Scenario: Short positions below 81.1 with targets @ 80.7 & 80.5 in extension.
Alternative scenario: Above 81.1 look for further upside with 81.2 & 81.3 as targets.
Comment: The pair stands below its resistance, the RSI is mixed to bearish.
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AUD/USD intraday: rebound expected. |
Pivot: 1.07
Most Likely Scenario: Long positions above 1.07 with targets @ 1.079 & 1.083 in extension.
Alternative scenario: Below 1.07 look for further downside with 1.065 & 1.06 as targets.
Comment: The pair has broken above its declining trend line and remains on the upside.
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GOLD (Spot) intraday: the bias remains bullish. |
Pivot: 1523.00
Most Likely Scenario: LONG positions above 1523 with targets @ 1534 & 1541.
Alternative scenario: The downside penetration of 1523 will call for 1519 & 1510.
Comment: Intraday support around 1523
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Crude Oil (Aug 11) intraday: bullish bias above 95.8 |
Pivot: 95.80
Most Likely Scenario: LONG positions above 95.8 with 97.75 & 98.6 as next targets.
Alternative scenario: The downside penetration of 95.8 will call for 94.35 & 93.45.
Comment: The RSI is mixed to bullish.
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