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PRE US OPEN, Daily Technical analysis, 13 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: further advance. |
Pivot: 1.3975
Most Likely Scenario: Long positions above 1.3975 with targets @ 1.412 & 1.4185 in extension.
Alternative scenario: Below 1.3975 look for further downside with 1.39 & 1.384 as targets.
Comment: The RSI is well directed, the pair is breaking above its resistance and should post further advance.
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GBP/USD intraday: rebound. |
Pivot: 1.5905
Most Likely Scenario: Long positions above 1.5905 with targets @ 1.6015 & 1.605 in extension.
Alternative scenario: Below 1.5905 look for further downside with 1.5875 & 1.5825 as targets.
Comment: The pair has rebounded on its support and remains on the upside.
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USD/JPY intraday: under pressure. |
Pivot: 79.6
Most Likely Scenario: Short positions below 79.6 with targets @ 79 & 78.75 in extension.
Alternative scenario: Above 79.6 look for further upside with 79.9 & 80.2 as targets.
Comment: The pair stands below its resistance and remains under pressure.
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AUD/USD intraday: continuation of the rebound. |
Pivot: 1.064
Most Likely Scenario: Long positions above 1.064 with targets @ 1.0715 & 1.076 in extension.
Alternative scenario: Below 1.064 look for further downside with 1.0575 & 1.0525 as targets.
Comment: The RSI broke above a bearish trend line.
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GOLD (Spot) intraday: further upside. |
Pivot: 1563.00
Most Likely Scenario: LONG positions above 1563 with 1577 & 1585 in sight.
Alternative scenario: The downside penetration of 1563 will call for 1554 & 1535.
Comment: The price stands in a bullish channel. No reversal sign on technical indicators.
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Crude Oil (Aug 11) intraday: further upside. |
Pivot: 96.50
Most Likely Scenario: LONG positions above 96.5 with targets @ 97.9 & 98.95.
Alternative scenario: The downside breakout of 96.5 will open the way to 95.9 & 95.15.
Comment: The RSI is bullish and calls for further advance.
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