PRE US OPEN, DAILY TECHNICAL ANALYSIS, 29 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: UNDER PRESSURE. Pivot: 1.369
Most Likely Scenario: Short positions below 1.369 with targets @ 1.357 & 1.3515 in extension.
Alternative scenario: Above 1.369 look for further upside with 1.375 & 1.38 as targets.
Comment: The pair stands below its resistance and remains under pressure.NEXT » GBP/USD INTRADAY: FURTHER ADVANCE. Pivot: 1.561
Most Likely Scenario: Long positions above 1.561 with targets @ 1.57 & 1.575 in extension.
Alternative scenario: Below 1.561 look for further downside with 1.5575 & 1.553 as targets.
Comment: The pair has broken above a declining trend line and is challenging its resistance.« PREVIOUS | NEXT » USD/JPY INTRADAY: CONSOLIDATION. Pivot: 76.7
Most Likely Scenario: Short positions below 76.7 with targets @ 76.25 & 76.1 in extension.
Alternative scenario: Above 76.7 look for further upside with 76.9 & 77.1 as targets.
Comment: The pair stands below its resistance and remains under pressure.« PREVIOUS | NEXT » AUD/USD INTRADAY: CAUTION. Pivot: 0.989
Most Likely Scenario: Short positions below 0.989 with targets @ 0.97 & 0.9625 in extension.
Alternative scenario: Above 0.989 look for further upside with 0.9985 & 1.0075 as targets.
Comment: The upward potential is likely to be limited by the resistance at 0.989.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 1640.00
Most Likely Scenario: SHORT positions below 1640 with 1585 & 1560 as next targets.
Alternative scenario: The upside penetration of 1640 will call for a rebound towards 1670 & 1690.
Comment: The index currently faces a challenging resistance area at 1640.« PREVIOUS | NEXT » CRUDE OIL (NOV 11) INTRADAY: KEY ST RESISTANCE AT 82.65 Pivot: 82.65
Most Likely Scenario: SHORT positions below 82.65 with 80 & 79.2 in sight.
Alternative scenario: The upside penetration of 82.65 will call for a rebound towards 84.75 & 85.8.
Comment: The index currently faces a challenging resistance area at 82.65.