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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 19 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: UNDER PRESSURE. |
Pivot: 1.3715
Most Likely Scenario: Short positions below 1.3715 with targets @ 1.359 & 1.3555 in extension.
Alternative scenario: Above 1.3715 look for further upside with 1.3775 & 1.3835 as targets.
Comment: the RSI is capped by a declining trend line, the pair has struck against its new resistance and remains on the downside.
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GBP/USD INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1.577
Most Likely Scenario: Short positions below 1.577 with targets @ 1.5685 & 1.565 in extension.
Alternative scenario: Above 1.577 look for further upside with 1.5825 & 1.587 as targets.
Comment: the pair stands below its new resistance and remains within a MT bearish channel.
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USD/JPY INTRADAY: REBOUND. |
Pivot: 76.75
Most Likely Scenario: Long positions above 76.75 with targets @ 77.05 & 77.25 in extension.
Alternative scenario: Below 76.75 look for further downside with 76.6 & 76.4 as targets.
Comment: the pair is posting a rebound as the RSI is turning up.
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AUD/USD INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1.0325
Most Likely Scenario: Short positions below 1.0325 with targets @ 1.018 & 1.01 in extension.
Alternative scenario: Above 1.0325 look for further upside with 1.0385 & 1.0445 as targets.
Comment: the RSI broke below a rising trend line.
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GOLD (SPOT) INTRADAY: KEY ST RESISTANCE AT 1833 |
Pivot: 1833.00
Most Likely Scenario: SHORT positions below 1833 with 1790 & 1763 as next targets.
Alternative scenario: The upside penetration of 1833 will call for 1845 & 1886.
Comment: the RSI is bearish and calls for further decline.
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CRUDE OIL (NOV 11) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 88.10
Most Likely Scenario: SHORT positions below 88.1 with targets @ 86.45 & 85.75.
Alternative scenario: The upside penetration of 88.1 will call for a rebound towards 89.2 & 90.1.
Comment: intraday technical indicators are mixed and call for caution.
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