If you cannot read this newsletter, please click here PRE US OPEN, DAILY TECHNICAL ANALYSIS, 02 SEPTEMBER 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: UNDER PRESSURE. Pivot: 1.43
Most Likely Scenario: Short positions below 1.43 with targets @ 1.421 & 1.4185 in extension.
Alternative scenario: Above 1.43 look for further upside with 1.435 & 1.4385 as targets.
Comment: the pair remains on the downside and is challenging its previous low.NEXT » GBP/USD INTRADAY: UNDER PRESSURE. Pivot: 1.6225
Most Likely Scenario: Short positions below 1.6225 with targets @ 1.616 & 1.613 in extension.
Alternative scenario: Above 1.6225 look for further upside with 1.6255 & 1.6295 as targets.
Comment: the pair and its intraday RSI remain capped by declining trend lines.« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 77
Most Likely Scenario: Short positions below 77 with targets @ 76.75 & 76.6 in extension.
Alternative scenario: Above 77 look for further upside with 77.2 & 77.35 as targets.
Comment: the pair is under pressure and is approaching its support, the RSI is mixed to bearish.« PREVIOUS | NEXT » AUD/USD INTRADAY: BULLISH BIAS ABOVE 1.0675. Pivot: 1.0675
Most Likely Scenario: Long positions above 1.0675 with targets @ 1.0765 & 1.0785 in extension.
Alternative scenario: Below 1.0675 look for further downside with 1.065 & 1.061 as targets.
Comment: the RSI has just landed on a support around 30% and is reversing up.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: BULLISH BIAS ABOVE 1828 Pivot: 1828.00
Most Likely Scenario: LONG positions above 1828 with targets @ 1871 & 1888.
Alternative scenario: The downside breakout of 1828 will open the way to 1800 & 1770.
Comment: the immediate trend remains up and the momentum is strong.« PREVIOUS | NEXT » CRUDE OIL (OCT 11) INTRADAY: REBOUND IN SIGHT. Pivot: 87.65
Most Likely Scenario: LONG positions above 87.65 with targets @ 89 & 89.9.
Alternative scenario: The downside breakout of 87.65 will open the way to 86.5 & 85.
Comment: the RSI is negative but supported by a strong support.