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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 21 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: 1.375
Most Likely Scenario: Short positions below 1.375 with targets @ 1.364 & 1.3595 in extension.
Alternative scenario: Above 1.375 look for further upside with 1.3835 & 1.39 as targets.
Comment: The RSI has broken below a rising trend line, the pair remains under pressure and is challenging its support.
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GBP/USD INTRADAY: UNDER PRESSURE. |
Pivot: 1.572
Most Likely Scenario: Short positions below 1.572 with targets @ 1.561 & 1.557 in extension.
Alternative scenario: Above 1.572 look for further upside with 1.577 & 1.5825 as targets.
Comment: The pair has broken below its support and remains under pressure.
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USD/JPY INTRADAY: UNDER PRESSURE. |
Pivot: 76.55
Most Likely Scenario: Short positions below 76.55 with targets @ 76.1 & 76 in extension.
Alternative scenario: Above 76.55 look for further upside with 76.75 & 77 as targets.
Comment: The RSI remains capped by a declining trend line, the pair stands below its resistance.
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AUD/USD INTRADAY: LIMITED UPSIDE. |
Pivot: 1.0225
Most Likely Scenario: Long positions above 1.0225 with targets @ 1.0325 & 1.036 in extension.
Alternative scenario: Below 1.0225 look for further downside with 1.0165 & 1.015 as targets.
Comment: A support base at 1.0225 has formed and has allowed for a temporary stabilisation.
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GOLD (SPOT) INTRADAY: FURTHER UPSIDE. |
Pivot: 1795.00
Most Likely Scenario: LONG positions above 1795 with targets @ 1822 & 1840.
Alternative scenario: The downside penetration of 1795 will call for a slide towards 1770 & 1745.
Comment: The RSI is bullish and calls for further upside.
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CRUDE OIL (NOV 11) INTRADAY: THE BIAS REMAINS BULLISH. |
Pivot: 85.75
Most Likely Scenario: LONG positions above 85.75 with 87 & 87.75 in sight.
Alternative scenario: The downside penetration of 85.75 will call for a slide towards 84.9 & 83.75.
Comment: Intraday support around 85.75
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