PRE US OPEN, DAILY TECHNICAL ANALYSIS, 19 AUGUST 2011 EUR/USD GBP/USD USD/JPY AUD/USD GOLD CRUDE OIL 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: INTRADAY SUPPORT AROUND 1.427. Pivot: 1.427
Most Likely Scenario: Long positions above 1.427 with targets @ 1.4375 & 1.442 in extension.
Alternative scenario: Below 1.427 look for further downside with 1.4225 & 1.4175 as targets.
Comment: The pair is posting a rebound and is challenging its resistance, the RSI is well directed.NEXT » GBP/USD INTRADAY: REBOUND. Pivot: 1.645
Most Likely Scenario: Long positions above 1.645 with targets @ 1.656 & 1.659 in extension.
Alternative scenario: Below 1.645 look for further downside with 1.64 & 1.635 as targets.
Comment: The pair is on the upside and is challenging its resistance, the RSI is well directed.« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 76.8
Most Likely Scenario: Short positions below 76.8 with targets @ 76.3 & 76 in extension.
Alternative scenario: Above 76.8 look for further upside with 77 & 77.2 as targets.
Comment: The pair remains under pressure and is challenging its support.« PREVIOUS | NEXT » AUD/USD INTRADAY: UNDER PRESSURE. Pivot: 1.045
Most Likely Scenario: Short positions below 1.045 with targets @ 1.0315 & 1.024 in extension.
Alternative scenario: Above 1.045 look for further upside with 1.049 & 1.056 as targets.
Comment: The pair is challenging its support, the RSI lacks upward momentum.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: CONSOLIDATION. Pivot: 1880.00
Most Likely Scenario: SHORT positions below 1880 with 1845 & 1830 as next targets.
Alternative scenario: The upside penetration of 1880 will call for 1900 & 1910.
Comment: The RSI is posting a bearish divergence (not confirmed yet).« PREVIOUS | NEXT » CRUDE OIL (OCT 11) INTRADAY: TENTATIVE REBOUND. Pivot: 79.35
Most Likely Scenario: LONG positions above 79.35 with 81.7 & 82.7 as next targets.
Alternative scenario: The downside penetration of 79.35 will call for 78.05 & 76.5.
Comment: The RSI is posting a bullish divergence (not confirmed yet).