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PRE US OPEN, Daily Technical Analysis, 09 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: under pressure. |
Pivot: 1.4275
Most Likely Scenario: Short positions below 1.4275 with targets @ 1.418 & 1.415 in extension.
Alternative scenario: Above 1.4275 look for further upside with 1.43 & 1.435 as targets.
Comment: the pair has struck against its resistance and remains under pressure.
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GBP/USD intraday: key ST resistance at 1.6385. |
Pivot: 1.6385
Most Likely Scenario: Short positions below 1.6385 with targets @ 1.631 & 1.627 in extension.
Alternative scenario: Above 1.6385 look for further upside with 1.644 & 1.6475 as targets.
Comment: the pair is posting a rebound but stands below its resistance.
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USD/JPY intraday: under pressure. |
Pivot: 77.55
Most Likely Scenario: Short positions below 77.55 with targets @ 77 & 76.7 in extension.
Alternative scenario: Above 77.55 look for further upside with 77.95 & 78.25 as targets.
Comment: the pair is on the downside and is challenging its support.
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AUD/USD intraday: capped by a negative trend line. |
Pivot: 1.03
Most Likely Scenario: Short positions below 1.03 with targets @ 1 & 0.99 in extension.
Alternative scenario: Above 1.03 look for further upside with 1.0405 & 1.053 as targets.
Comment: the pair has struck against its MT declining trend line and remains on the downside.
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GOLD (Spot) intraday: the bias remains bullish. |
Pivot: 1735.00
Most Likely Scenario: LONG positions above 1735 with targets @ 1790 & 1807.
Alternative scenario: The downside penetration of 1735 will call for a slide towards 1710 & 1692.
Comment: the RSI is supported by a bullish trend line.
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Crude Oil (Sep 11) intraday: 74 in sight |
Pivot: 83.00
Most Likely Scenario: SHORT positions below 83 with 75.7 & 74 as next targets.
Alternative scenario: The upside penetration of 83 will call for a rebound towards 86 & 88.3.
Comment: the RSI is capped by a declining trend line.
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