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PRE US OPEN, Daily Technical analysis, 19 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: continuation of the rebound. |
Pivot: 1.414
Most Likely Scenario: Long positions above 1.414 with targets @ 1.4225 & 1.4285 in extension.
Alternative scenario: Below 1.414 look for further downside with 1.4075 & 1.4025 as targets.
Comment: The pair has broken above an intraday bearish channel resistance and a ST bearish trend line.
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GBP/USD intraday: towards 1.6175. |
Pivot: 1.6085
Most Likely Scenario: Long positions above 1.6085 with targets @ 1.616 & 1.6175 in extension.
Alternative scenario: Below 1.6085 look for further downside with 1.6015 & 1.599 as targets.
Comment: The RSI broke above a bearish trend line.
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USD/JPY intraday: choppy. |
Pivot: 78.85
Most Likely Scenario: Long positions above 78.85 with targets @ 79.28 & 79.5 in extension.
Alternative scenario: Below 78.85 look for further downside with 78.5 & 78.2 as targets.
Comment: A support base at 78.85 has formed and has allowed for a temporary stabilisation.
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AUD/USD intraday: continuation of the rebound. |
Pivot: 1.064
Most Likely Scenario: Long positions above 1.064 with targets @ 1.071 & 1.075 in extension.
Alternative scenario: Below 1.064 look for further downside with 1.061 & 1.0565 as targets.
Comment: The RSI advocates for further upside.
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GOLD (Spot) intraday: further upside. |
Pivot: 1588.00
Most Likely Scenario: LONG positions above 1588 with 1618 & 1630 as next targets.
Alternative scenario: The downside penetration of 1588 will call for a slide towards 1574 & 1557.
Comment: The price is supported by a rising trend line.
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Crude Oil (Sep 11) intraday: further advance. |
Pivot: 95.00
Most Likely Scenario: LONG positions above 95 with 97.9 & 99.3 as next targets.
Alternative scenario: The downside breakout of 95 will open the way to 94 & 92.95.
Comment: The price has broken above a declining trend line.
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