PRE US OPEN, DAILY TECHNICAL ANALYSIS, 22 AUGUST 2011 EUR/USD GBP/USD USD/JPY AUD/USD GOLD CRUDE OIL 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: 1.4345
Most Likely Scenario: Long positions above 1.4345 with targets @ 1.4425 & 1.4475 in extension.
Alternative scenario: Below 1.4345 look for further downside with 1.43 & 1.427 as targets.
Comment: The pair is on the upside and is challenging its resistance, the RSI is mixed to bullish.NEXT » GBP/USD INTRADAY: THE UPSIDE PREVAILS. Pivot: 1.644
Most Likely Scenario: Long positions above 1.644 with targets @ 1.655 & 1.662 in extension.
Alternative scenario: Below 1.644 look for further downside with 1.64 & 1.632 as targets.
Comment: The pair stands above its support and should post a rebound.« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 77
Most Likely Scenario: Short positions below 77 with targets @ 76.4 & 76 in extension.
Alternative scenario: Above 77 look for further upside with 77.5 & 77.9 as targets.
Comment: The pair stands below its resistance and remains under pressure.« PREVIOUS | NEXT » AUD/USD INTRADAY: INTRADAY SUPPORT AROUND 1.036. Pivot: 1.036
Most Likely Scenario: Long positions above 1.036 with targets @ 1.0485 & 1.055 in extension.
Alternative scenario: Below 1.036 look for further downside with 1.0315 & 1.024 as targets.
Comment: The pair has rebounded on its support and should post further up move as the RSI is well directed.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: BULLISH BIAS ABOVE 1862 Pivot: 1862.00
Most Likely Scenario: LONG positions above 1862 with targets @ 1895 & 1920.
Alternative scenario: The downside breakout of 1862 will open the way to 1836 & 1815.
Comment: The price is supported by a rising trend line.« PREVIOUS | NEXT » CRUDE OIL (OCT 11) INTRADAY: AIM @ 85.7 Pivot: 81.15
Most Likely Scenario: LONG positions @ 83.05 with 84.3 & 85.7 as next targets.
Alternative scenario: The downside penetration of 81.15 will call for a slide towards 79.35 & 78.05.
Comment: A bullish flag pattern is taking place and calls for further upside.
PRE EUROPEAN OPEN, DAILY TECHNICAL ANALYSIS, 22 AUGUST 2011 EUR/USD GBP/USD USD/JPY AUD/USD GOLD CRUDE OIL 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: CAUTION. Pivot: 1.4345.
Most Likely Scenario: LONG positions @ 1.435 with 1.4425 & 1.4475 as next targets.
Alternative scenario: The downside penetration of 1.4345 will call for 1.43 & 1.427.
Comment: The pair stands above its support but the RSI calls for caution.
Trend: ST Ltd Upside; MT RangeNEXT » GBP/USD INTRADAY: INTRADAY SUPPORT AROUND 1.644 Pivot: 1.6440.
Most Likely Scenario: LONG positions @ 1.645 with 1.655 & 1.662 as next targets.
Alternative scenario: The downside penetration of 1.644 will call for 1.64 & 1.632.
Comment: The RSI is supported by a rising trend line, the pair stands above its support.« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 77.00.
Most Likely Scenario: SHORT positions @ 76.95 with targets @ 76.4 & 76.
Alternative scenario: The upside penetration of 77 will call for 77.5 & 77.9.
Comment: The pair stands below its resistance and remains under pressure.« PREVIOUS | NEXT » AUD/USD INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 1.0485
Most Likely Scenario: Short positions below 1.0485 with targets @ 1.0315 & 1.024 in extension.
Alternative scenario: Above 1.0485 look for further upside with 1.055 & 1.063 as targets.
Comment: The RSI is badly directed, the pair is on the downside and should face further weakness.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: FURTHER ADVANCE. Pivot: 1853.00
Most Likely Scenario: LONG positions above 1853 with 1900 & 1920 in sight.
Alternative scenario: The downside penetration of 1853 will call for a slide towards 1836 & 1815.
Comment: The immediate trend remains up and the momentum is strong.« PREVIOUS | NEXT » CRUDE OIL (OCT 11) INTRADAY: FURTHER ADVANCE. Pivot: 79.35
Most Likely Scenario: LONG positions above 79.35 with targets @ 84.3 & 85.9.
Alternative scenario: The downside penetration of 79.35 will call for a slide towards 78.05 & 76.5.
Comment: A bullish flag pattern is taking place and calls for further upside.
PRE US OPEN, DAILY TECHNICAL ANALYSIS, 19 AUGUST 2011 EUR/USD GBP/USD USD/JPY AUD/USD GOLD CRUDE OIL 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: INTRADAY SUPPORT AROUND 1.427. Pivot: 1.427
Most Likely Scenario: Long positions above 1.427 with targets @ 1.4375 & 1.442 in extension.
Alternative scenario: Below 1.427 look for further downside with 1.4225 & 1.4175 as targets.
Comment: The pair is posting a rebound and is challenging its resistance, the RSI is well directed.NEXT » GBP/USD INTRADAY: REBOUND. Pivot: 1.645
Most Likely Scenario: Long positions above 1.645 with targets @ 1.656 & 1.659 in extension.
Alternative scenario: Below 1.645 look for further downside with 1.64 & 1.635 as targets.
Comment: The pair is on the upside and is challenging its resistance, the RSI is well directed.« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 76.8
Most Likely Scenario: Short positions below 76.8 with targets @ 76.3 & 76 in extension.
Alternative scenario: Above 76.8 look for further upside with 77 & 77.2 as targets.
Comment: The pair remains under pressure and is challenging its support.« PREVIOUS | NEXT » AUD/USD INTRADAY: UNDER PRESSURE. Pivot: 1.045
Most Likely Scenario: Short positions below 1.045 with targets @ 1.0315 & 1.024 in extension.
Alternative scenario: Above 1.045 look for further upside with 1.049 & 1.056 as targets.
Comment: The pair is challenging its support, the RSI lacks upward momentum.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: CONSOLIDATION. Pivot: 1880.00
Most Likely Scenario: SHORT positions below 1880 with 1845 & 1830 as next targets.
Alternative scenario: The upside penetration of 1880 will call for 1900 & 1910.
Comment: The RSI is posting a bearish divergence (not confirmed yet).« PREVIOUS | NEXT » CRUDE OIL (OCT 11) INTRADAY: TENTATIVE REBOUND. Pivot: 79.35
Most Likely Scenario: LONG positions above 79.35 with 81.7 & 82.7 as next targets.
Alternative scenario: The downside penetration of 79.35 will call for 78.05 & 76.5.
Comment: The RSI is posting a bullish divergence (not confirmed yet).