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PRE EUROPEAN OPEN, Daily Technical analysis, 11 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: rebound. |
Pivot: 1.4125.
Most Likely Scenario: LONG positions @ 1.4135 with targets @ 1.4275 & 1.431.
Alternative scenario: The downside breakout of 1.4125 will open the way to 1.4085 & 1.4055.
Comment: The pair has rebounded on its support and should post further advance as the RSI is well directed.
Trend: ST Ltd Upside; MT Range
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GBP/USD intraday: under pressure. |
Pivot: 1.6250.
Most Likely Scenario: SHORT positions @ 1.624 with targets @ 1.611 & 1.6085.
Alternative scenario: The upside penetration of 1.625 will call for 1.63 & 1.6375.
Comment: The pair is rebounding but remains within a bearish channel, the RSI is capped by a declining trend line.
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USD/JPY intraday: under pressure. |
Pivot: 77.20.
Most Likely Scenario: SHORT positions @ 77.15 with targets @ 76.3 & 76.
Alternative scenario: The upside penetration of 77.2 will call for 77.75 & 78.3.
Comment: The pair has struck against its resistance and remains under pressure.
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AUD/USD intraday: key ST resistance at 1.03. |
Pivot: 1.03
Most Likely Scenario: Short positions below 1.03 with targets @ 1.011 & 1.005 in extension.
Alternative scenario: Above 1.03 look for further upside with 1.04 & 1.05 as targets.
Comment: The pair stands below its resistance but the RSI calls for caution.
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GOLD (Spot) intraday: further upside. |
Pivot: 1770.00
Most Likely Scenario: LONG positions above 1770 with 1815 & 1832 in sight.
Alternative scenario: The downside penetration of 1770 will call for a slide towards 1740 & 1720.
Comment: The immediate trend remains up and the momentum is strong.
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Crude Oil (Sep 11) intraday: the downside prevails. |
Pivot: 83.30
Most Likely Scenario: SHORT positions below 83.3 with 79.5 & 77.6 in sight.
Alternative scenario: The upside breakout of 83.3 will open the way to 85 & 87.
Comment: The RSI is capped by a declining trend line.
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