PRE US OPEN, DAILY TECHNICAL ANALYSIS, 27 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: KEY RESISTANCE AT 1.356. Pivot: 1.356
Most Likely Scenario: Short positions below 1.356 with targets @ 1.3475 & 1.3415 in extension.
Alternative scenario: Above 1.356 look for further upside with 1.363 & 1.3695 as targets.
Comment: the pair stands below its strong resistance and remains under pressure.NEXT » GBP/USD INTRADAY: BULLISH BIAS ABOVE 1.55. Pivot: 1.55
Most Likely Scenario: Long positions above 1.55 with targets @ 1.56 & 1.563 in extension.
Alternative scenario: Below 1.55 look for further downside with 1.5420 & 1.5370 as targets.
Comment: the pair has struck against its resistance and is pulling back on its bullish channel lower boundary.« PREVIOUS | NEXT » USD/JPY INTRADAY: CONSOLIDATION. Pivot: 76.6
Most Likely Scenario: Short positions below 76.6 with targets @ 76.25 & 76.1 in extension.
Alternative scenario: Above 76.6 look for further upside with 76.9 & 77.1 as targets.
Comment: the pair is posting a rebound but stands below its resistance.« PREVIOUS | NEXT » AUD/USD INTRADAY: CONTINUATION OF THE REBOUND. Pivot: 0.9785
Most Likely Scenario: Long positions above 0.9785 with targets @ 0.991 & 1 in extension.
Alternative scenario: Below 0.9785 look for further downside with 0.969 & 0.962 as targets.
Comment: the RSI is mixed with a bullish bias.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: FURTHER ADVANCE. Pivot: 1628.00
Most Likely Scenario: LONG positions above 1628 with 1690 & 1719 as next targets.
Alternative scenario: The downside penetration of 1628 will call for 1585 & 1530.
the immediate trend remains up and the momentum is strong.« PREVIOUS | NEXT » CRUDE OIL (NOV 11) INTRADAY: FURTHER UPSIDE. Pivot: 80.30
Most Likely Scenario: LONG positions above 80.3 with 83 & 84 in sight.
Alternative scenario: The downside penetration of 80.3 will call for 79.2 & 77.5.
Comment: the RSI lacks momentum.