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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 06 SEPTEMBER 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: FURTHER ADVANCE. |
Pivot: 1.413
Most Likely Scenario: Long positions above 1.413 with targets @ 1.4275 & 1.4325 in extension.
Alternative scenario: Below 1.413 look for further downside with 1.41 & 1.404 as targets.
Comment: The pair has broken above its MT declining trend line and should post further advance as the RSI is well directed.
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GBP/USD INTRADAY: CAUTION. |
Pivot: 1.615
Most Likely Scenario: Short positions below 1.615 with targets @ 1.609 & 1.605 in extension.
Alternative scenario: Above 1.615 look for further upside with 1.619 & 1.6225 as targets.
Comment: The pair is challenging its MT declining trend line, caution.
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USD/JPY INTRADAY: THE UPSIDE PREVAILS. |
Pivot: 77
Most Likely Scenario: Long positions above 77 with targets @ 77.35 & 77.5 in extension.
Alternative scenario: Below 77 look for further downside with 76.8 & 76.6 as targets.
Comment: The pair has broken above its resistance and remains on the upside.
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AUD/USD INTRADAY: CONTINUATION OF THE REBOUND. |
Pivot: 1.055
Most Likely Scenario: Long positions above 1.055 with targets @ 1.065 & 1.068 in extension.
Alternative scenario: Below 1.055 look for further downside with 1.05 & 1.0465 as targets.
Comment: The RSI broke above a bearish trend line.
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GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1925.00
Most Likely Scenario: SHORT positions below 1925 with 1870 & 1840 as next targets.
Alternative scenario: The upside penetration of 1925 will call for a rebound towards 1940 & 1965.
Comment: The false breakout of 1913 is a negative signal.
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CRUDE OIL (OCT 11) INTRADAY: REBOUND. |
Pivot: 83.00
Most Likely Scenario: LONG positions above 83 with targets @ 85.4 & 86.5.
Alternative scenario: The downside penetration of 83 will call for a slide towards 82 & 81.2.
Comment: The RSI calls for a bounce.
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