|
|
PRE US OPEN, Daily Technical analysis, 14 July 2011 |
|
|
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 bias remains bullish. |
Pivot: 1.416
Most Likely Scenario: Long positions above 1.416 with targets @ 1.4285 & 1.4375 in extension.
Alternative scenario: Below 1.416 look for further downside with 1.411 & 1.405 as targets.
Comment: The pair remains on the upside and is challenging its new resistance.
|
|
GBP/USD intraday: the bias remains bullish. |
Pivot: 1.6075
Most Likely Scenario: Long positions above 1.6075 with targets @ 1.62 & 1.6225 in extension.
Alternative scenario: Below 1.6075 look for further downside with 1.603 & 1.6 as targets.
Comment: The pair is rebounding on its support as the RSI is turning up.
|
|
USD/JPY intraday: turning up. |
Pivot: 78.5
Most Likely Scenario: Long positions above 78.5 with targets @ 79.5 & 79.9 in extension.
Alternative scenario: Below 78.5 look for further downside with 78.2 & 77.8 as targets.
Comment: The pair has broken above its MT declining trend line and should post further advance.
|
|
AUD/USD intraday: towards 1.0855. |
Pivot: 1.0675
Most Likely Scenario: Long positions above 1.0675 with targets @ 1.0855 & 1.089 in extension.
Alternative scenario: Below 1.0675 look for further downside with 1.0625 & 1.0575 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
|
|
GOLD (Spot) intraday: target 1618 |
Pivot: 1572.00
Most Likely Scenario: LONG positions above 1572 with targets @ 1605 & 1618.
Alternative scenario: The downside breakout of 1572 will open the way to 1563 & 1554.
Comment: The RSI advocates for further upside.
|
|
Crude Oil (Aug 11) intraday: further advance. |
Pivot: 97.50
Most Likely Scenario: LONG positions above 97.5 with 98.95 & 99.4 as next targets.
Alternative scenario: The downside breakout of 97.5 will open the way to 96.5 & 95.9.
Comment: The RSI lacks downward momentum.
|
|
|