PRE US OPEN, DAILY TECHNICAL ANALYSIS, 16 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: TURNING DOWN. Pivot: 1.384
Most Likely Scenario: Short positions below 1.384 with targets @ 1.3765 & 1.3705 in extension.
Alternative scenario: Above 1.384 look for further upside with 1.3895 & 1.394 as targets.
Comment: The RSI broke below a bullish trend line.NEXT » GBP/USD INTRADAY: KEY ST RESISTANCE AT 1.5825. Pivot: 1.5825
Most Likely Scenario: Short positions below 1.5825 with targets @ 1.5745 & 1.5705 in extension.
Alternative scenario: Above 1.5825 look for further upside with 1.587 & 1.589 as targets.
Comment: The upward potential is likely to be limited by the resistance at 1.5825.« PREVIOUS | NEXT » USD/JPY INTRADAY: INTRADAY SUPPORT AROUND 76.6. Pivot: 76.6
Most Likely Scenario: Long positions above 76.6 with targets @ 77.05 & 77.25 in extension.
Alternative scenario: Below 76.6 look for further downside with 76.4 & 76.3 as targets.
Comment: A support base at 76.6 has formed and has allowed for a temporary stabilisation.« PREVIOUS | NEXT » AUD/USD INTRADAY: KEY ST RESISTANCE AT 1.0385. Pivot: 1.0385
Most Likely Scenario: Short positions below 1.0385 with targets @ 1.024 & 1.018 in extension.
Alternative scenario: Above 1.0385 look for further upside with 1.0445 & 1.0475 as targets.
Comment: The RSI has struck against a major resistance around 70% and is reversing down.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: TOWARDS 1725 Pivot: 1808.00
Most Likely Scenario: SHORT positions @ 1793 with 1745 & 1725 in sight.
Alternative scenario: The upside penetration of 1808 will call for a rebound towards 1840 & 1886.
Comment: The RSI is capped by a bearish trend line.« PREVIOUS | NEXT » CRUDE OIL (NOV 11) INTRADAY: FURTHER UPSIDE. Pivot: 88.80
Most Likely Scenario: LONG positions above 88.8 with 90.6 & 91.6 as next targets.
Alternative scenario: The downside penetration of 88.8 will call for 88.1 & 86.6.
Comment: The RSI is supported by a rising trend line.