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PRE US OPEN, Daily Technical Analysis, 05 August 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: caution. |
Pivot: 1.417
Most Likely Scenario: Short positions below 1.417 with targets @ 1.41 & 1.406 in extension.
Alternative scenario: Above 1.417 look for further upside with 1.4235 & 1.4285 as targets.
Comment: the pair is challenging its resistance, the RSI is mixed and calls for caution.
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GBP/USD intraday: under pressure. |
Pivot: 1.6325
Most Likely Scenario: Short positions below 1.6325 with targets @ 1.6225 & 1.619 in extension.
Alternative scenario: Above 1.6325 look for further upside with 1.6375 & 1.64 as targets.
Comment: the pair is posting a rebound but stands below its resistance.
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USD/JPY intraday: under pressure. |
Pivot: 79
Most Likely Scenario: Short positions below 79 with targets @ 78 & 77.5 in extension.
Alternative scenario: Above 79 look for further upside with 79.25 & 79.75 as targets.
Comment: the pair is on the downside and should reach its next support as the RSI is badly directed.
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AUD/USD intraday: the downside prevails. |
Pivot: 1.055
Most Likely Scenario: Short positions below 1.055 with targets @ 1.0425 & 1.0395 in extension.
Alternative scenario: Above 1.055 look for further upside with 1.0625 & 1.068 as targets.
Comment: the pair stands below its new resistance and remains under pressure.
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GOLD (Spot) intraday: key ST resistance at 1675 |
Pivot: 1675.00
Most Likely Scenario: SHORT positions below 1675 with 1641 & 1630 as next targets.
Alternative scenario: The upside penetration of 1675 will call for 1682 & 1700.
Comment: the RSI is capped by a bearish trend line.
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Crude Oil (Sep 11) intraday: under pressure. |
Pivot: 89.10
Most Likely Scenario: SHORT positions below 89.1 with 84 & 83 in sight.
Alternative scenario: The upside penetration of 89.1 will call for 91.25 & 92.85.
Comment: the RSI is bearish and calls for further decline.
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