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PRE US OPEN, Daily Technical analysis, 12 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: 1.415
Most Likely Scenario: Long positions above 1.415 with targets @ 1.431 & 1.4375 in extension.
Alternative scenario: Below 1.415 look for further downside with 1.41 & 1.4055 as targets.
Comment: The pair is rebounding on its support and should post further advance as the RSI is well directed.
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GBP/USD intraday: further advance. |
Pivot: 1.62
Most Likely Scenario: Long positions above 1.62 with targets @ 1.6325 & 1.635 in extension.
Alternative scenario: Below 1.62 look for further downside with 1.615 & 1.611 as targets.
Comment: The RSI is supported by a rising trend line, the pair has broken above its resistance and should post further up move.
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USD/JPY intraday: under pressure. |
Pivot: 77.2
Most Likely Scenario: Short positions below 77.2 with targets @ 76.3 & 76 in extension.
Alternative scenario: Above 77.2 look for further upside with 77.75 & 78.4 as targets.
Comment: The pair has struck against its resistance and should face further weakness as the RSI is badly directed.
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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 has rebounded on its support and should post furter up move.
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GOLD (Spot) intraday: the downside prevails. |
Pivot: 1780.00
Most Likely Scenario: SHORT positions below 1780 with 1720 & 1700 in sight.
Alternative scenario: The upside penetration of 1780 will call for a rebound towards 1815 & 1832.
Comment: The RSI is capped by a declining trend line.
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Crude Oil (Sep 11) intraday: bullish bias above 82.85 |
Pivot: 82.85
Most Likely Scenario: LONG positions above 82.85 with 87.3 & 90.25 in sight.
Alternative scenario: The downside penetration of 82.85 will call for a slide towards 80.7 & 79.5.
Comment: The RSI is supported by a rising trend line.
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