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PRE EUROPEAN OPEN, DAILY TECHNICAL ANALYSIS, 26 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: 1.3475.
Most Likely Scenario: SHORT positions @ 1.3465 with 1.3385 & 1.332 in sight.
Alternative scenario: The upside breakout of 1.3475 will open the way to 1.3575 & 1.363.
Comment: The pair remains under pressure and is approaching its previous low.
Trend: ST Consolidation; MT Bearish
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GBP/USD INTRADAY: UNDER PRESSURE. |
Pivot: 1.5500.
Most Likely Scenario: SHORT positions @ 1.549 with 1.537 & 1.5325 in sight.
Alternative scenario: The upside breakout of 1.55 will open the way to 1.5575 & 1.563.
Comment: The RSI is capped by a declining trend line, the pair stands below its resistance and should face a weakness.
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USD/JPY INTRADAY: UNDER PRESSURE. |
Pivot: 76.70.
Most Likely Scenario: SHORT positions @ 76.65 with 76.1 & 75.95 in sight.
Alternative scenario: The upside breakout of 76.7 will open the way to 76.9 & 77.1.
Comment: The pair remains under pressure and is approaching its support.
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AUD/USD INTRADAY: UNDER PRESSURE. |
Pivot: 0.987
Most Likely Scenario: Short positions below 0.987 with targets @ 0.965 & 0.9545 in extension.
Alternative scenario: Above 0.987 look for further upside with 0.998 & 1.015 as targets.
Comment: The RSI broke below a rising trend line.
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GOLD (SPOT) INTRADAY: KEY ST RESISTANCE AT 1645 |
Pivot: 1645.00
Most Likely Scenario: SHORT positions below 1645 with 1577 & 1545 in sight.
Alternative scenario: The upside breakout of 1645 will open the way to 1665 & 1690.
Comment: The immediate trend remains down and the momentum is strong.
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CRUDE OIL (NOV 11) INTRADAY: UNDER PRESSURE. |
Pivot: 80.85
Most Likely Scenario: SHORT positions below 80.85 with targets @ 77.5 & 76.6.
Alternative scenario: The upside penetration of 80.85 will call for a rebound towards 81.7 & 83.4.
Comment: The RSI is bearish and calls for further downside.
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