|
|
PRE US OPEN, Daily Technical Analysis, 26 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: towards 1.458. |
Pivot: 1.4435
Most Likely Scenario: Long positions above 1.4435 with targets @ 1.4555 & 1.458 in extension.
Alternative scenario: Below 1.4435 look for further downside with 1.439 & 1.4325 as targets.
Comment: the RSI broke above a bearish trend line.
|
|
GBP/USD intraday: bullish bias above 1.633. |
Pivot: 1.633
Most Likely Scenario: Long positions above 1.633 with targets @ 1.643 & 1.65 in extension.
Alternative scenario: Below 1.633 look for further downside with 1.6255 & 1.6205 as targets.
Comment: the RSI is well directed.
|
|
USD/JPY intraday: the downside prevails. |
Pivot: 78.4
Most Likely Scenario: Short positions below 78.4 with targets @ 77.85 & 77.65 in extension.
Alternative scenario: Above 78.4 look for further upside with 78.7 & 79.05 as targets.
Comment: the pair remains in a bearish channel.
|
|
AUD/USD intraday: look for 1.096. |
Pivot: 1.088
Most Likely Scenario: Long positions above 1.088 with targets @ 1.096 & 1.1 in extension.
Alternative scenario: Below 1.088 look for further downside with 1.084 & 1.0825 as targets.
Comment: the RSI broke above a declining trend line.
|
|
GOLD (Spot) intraday: bullish bias above 1600 |
Pivot: 1600.00
Most Likely Scenario: LONG positions above 1600 with 1623 & 1635 in sight.
Alternative scenario: The downside penetration of 1600 will call for a slide towards 1593 & 1583.
Comment: the price is challenging its support threshold at 1610, caution.
|
|
Crude Oil (Sep 11) intraday: further upside. |
Pivot: 98.40
Most Likely Scenario: LONG positions above 98.4 with 100 & 100.6 as next targets.
Alternative scenario: The downside breakout of 98.4 will open the way to 97.9 & 97.2.
Comment: the price holds above its support level at 98.4.
|
|
|