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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 15 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: THE BIAS REMAINS BULLISH. |
Pivot: 1.37
Most Likely Scenario: Long positions above 1.37 with targets @ 1.384 & 1.388 in extension.
Alternative scenario: Below 1.37 look for further downside with 1.365 & 1.3625 as targets.
Comment: The RSI is bullish and calls for further advance.
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GBP/USD INTRADAY: TOWARDS 1.5870. |
Pivot: 1.578
Most Likely Scenario: Long positions above 1.578 with targets @ 1.584 & 1.5870 in extension.
Alternative scenario: Below 1.578 look for further downside with 1.5735 & 1.5705 as targets.
Comment: The break above 1.578 is a positive signal that has opened a path to 1.584.
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USD/JPY INTRADAY: CAPPED BY A NEGATIVE TREND LINE. |
Pivot: 77
Most Likely Scenario: Short positions below 77 with targets @ 76.55 & 76.4 in extension.
Alternative scenario: Above 77 look for further upside with 77.25 & 77.4 as targets.
Comment: A key declining trend line maintains downward pressure.
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AUD/USD INTRADAY: BULLISH BIAS ABOVE 1.018. |
Pivot: 1.018
Most Likely Scenario: Long positions above 1.018 with targets @ 1.03 & 1.0375 in extension.
Alternative scenario: Below 1.018 look for further downside with 1.01 & 1.005 as targets.
Comment: The RSI is supported by a bullish trend line.
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GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1830.00
Most Likely Scenario: SHORT positions below 1830 with 1795 & 1770 in sight.
Alternative scenario: The upside penetration of 1830 will call for 1850 & 1886.
Comment: The RSI is capped by a bearish trend line.
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CRUDE OIL (NOV 11) INTRADAY: CAUTION |
Pivot: 89.40
Most Likely Scenario: SHORT positions below 89.4 with targets @ 88 & 86.6.
Alternative scenario: The upside penetration of 89.4 will call for 90.6 & 91.6.
Comment: The RSI is mixed with a bearish bias.
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