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| PRE US OPEN, DAILY TECHNICAL ANALYSIS, 23 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: FURTHER ADVANCE. |
Pivot: 1.442
Most Likely Scenario: Long positions above 1.442 with targets @ 1.4515 & 1.454 in extension.
Alternative scenario: Below 1.442 look for further downside with 1.4385 & 1.4345 as targets.
Comment: The RSI is well directed, the pair remains on the upside and is challenging its previous high.
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GBP/USD INTRADAY: THE UPSIDE PREVAILS. |
Pivot: 1.65
Most Likely Scenario: Long positions above 1.65 with targets @ 1.66 & 1.662 in extension.
Alternative scenario: Below 1.65 look for further downside with 1.645 & 1.641 as targets.
Comment: The RSI is well directed, the pair is on the upside and is approaching its resistance.
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USD/JPY INTRADAY: UNDER PRESSURE. |
Pivot: 77
Most Likely Scenario: Short positions below 77 with targets @ 76.4 & 76 in extension.
Alternative scenario: Above 77 look for further upside with 77.5 & 77.9 as targets.
Comment: The pair stands below its resistance and remains under pressure.
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AUD/USD INTRADAY: THE UPSIDE PREVAILS. |
Pivot: 1.047
Most Likely Scenario: Long positions above 1.047 with targets @ 1.055 & 1.06 in extension.
Alternative scenario: Below 1.047 look for further downside with 1.0385 & 1.0315 as targets.
Comment: The break above 1.047 is a positive signal that has opened a path to 1.055.
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GOLD (SPOT) INTRADAY: UNDER PRESSURE. |
Pivot: 1913.00
Most Likely Scenario: SHORT positions below 1913 with targets @ 1857 & 1830.
Alternative scenario: The upside penetration of 1913 will call for 1940 & 1983.
Comment: The RSI is capped by a declining trend line.
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CRUDE OIL (OCT 11) INTRADAY: THE BIAS REMAINS BULLISH. |
Pivot: 83.30
Most Likely Scenario: LONG positions above 83.3 with 86.05 & 87 in sight.
Alternative scenario: The downside penetration of 83.3 will call for a slide towards 81.15 & 79.35.
Comment: Moving averages are heading up.
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