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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 13 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: INTRADAY SUPPORT AROUND 1.3555. |
Pivot: 1.3555
Most Likely Scenario: Long positions above 1.3555 with targets @ 1.3695 & 1.3785 in extension.
Alternative scenario: Below 1.3555 look for further downside with 1.3495 & 1.341 as targets.
Comment: the RSI broke above a bearish trend line.
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GBP/USD INTRADAY: INTRADAY SUPPORT AROUND 1.575. |
Pivot: 1.575
Most Likely Scenario: Long positions above 1.575 with targets @ 1.5835 & 1.587 in extension.
Alternative scenario: Below 1.575 look for further downside with 1.5695 & 1.5660 as targets.
Comment: the RSI has just landed on a support around 30% and is reversing up.
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USD/JPY INTRADAY: CONSOLIDATION. |
Pivot: 77.4
Most Likely Scenario: Short positions below 77.4 with targets @ 76.75 & 76.55 in extension.
Alternative scenario: Above 77.4 look for further upside with 77.65 & 77.85 as targets.
Comment: the break below 77.4 is a negative signal that has opened a path to 76.75.
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AUD/USD INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1.0375
Most Likely Scenario: Short positions below 1.0375 with targets @ 1.0255 & 1.02 in extension.
Alternative scenario: Above 1.0375 look for further upside with 1.0445 & 1.049 as targets.
Comment: technically, the RSI is below its neutrality area at 50.
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GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1835.00
Most Likely Scenario: SHORT positions below 1835 with targets @ 1795 & 1770.
Alternative scenario: The upside penetration of 1835 will call for a rebound towards 1855 & 1886.
Comment: the price is capped by a declining trend line.
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CRUDE OIL (OCT 11) INTRADAY: THE BIAS REMAINS BULLISH. |
Pivot: 87.40
Most Likely Scenario: LONG positions above 87.4 with 89.2 & 89.9 in sight.
Alternative scenario: The downside penetration of 87.4 will call for a slide towards 86.6 & 85.05.
Comment: the price has struck against the rising 50d MA.
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