|
|
PRE EUROPEAN OPEN, Daily Technical analysis, 12 August 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: rebound expected. |
Pivot: 1.4125.
Most Likely Scenario: LONG positions @ 1.4135 with 1.431 & 1.4375 as next targets.
Alternative scenario: The downside penetration of 1.4125 will call for 1.4085 & 1.4055.
Comment: The pair is pulling back on its support ahead of a rebound, the RSI is mixed to bullish.
Trend: ST Ltd Upside; MT Range
|
|
GBP/USD intraday: rebound expected. |
Pivot: 1.6175.
Most Likely Scenario: LONG positions @ 1.6185 with 1.625 & 1.63 as next targets.
Alternative scenario: The downside penetration of 1.6175 will call for a slide towards 1.611 & 1.605.
Comment: The RSI is supported by a rising trend line, the pair should post a rebound on its support.
|
|
USD/JPY intraday: under pressure. |
Pivot: 77.20.
Most Likely Scenario: SHORT positions @ 77.15 with 76.3 & 76 as next targets.
Alternative scenario: The upside penetration of 77.2 will call for a rebound towards 77.75 & 78.4.
Comment: The pair stands below its resistance and remains under pressure.
|
|
AUD/USD intraday: intraday support around 1.023. |
Pivot: 1.023
Most Likely Scenario: Long positions above 1.023 with targets @ 1.04 & 1.05 in extension.
Alternative scenario: Below 1.023 look for further downside with 1.011 & 0.995 as targets.
Comment: The pair is pulling back on its support ahead of a rebound.
|
|
GOLD (Spot) intraday: key ST resistance at 1780 |
Pivot: 1780.00
Most Likely Scenario: SHORT positions below 1780 with targets @ 1720 & 1700.
Alternative scenario: The upside breakout of 1780 will open the way to 1815 & 1832.
Comment: The RSI is capped by a declining trend line.
|
|
Crude Oil (Sep 11) intraday: further advance. |
Pivot: 82.30
Most Likely Scenario: LONG positions above 82.3 with targets @ 87.3 & 90.25.
Alternative scenario: The downside breakout of 82.3 will open the way to 80.7 & 79.5.
Comment: The RSI is supported by a rising trend line.
|
|
|