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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 10 OCTOBER 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: THE UPSIDE PREVAILS. |
Pivot: 1.3455
Most Likely Scenario: Long positions above 1.3455 with targets @ 1.36 & 1.3675 in extension.
Alternative scenario: Below 1.3455 look for further downside with 1.344 & 1.338 as targets.
Comment: The RSI advocates for further advance.
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GBP/USD INTRADAY: SUPPORTED BY A RISING TREND LINE. |
Pivot: 1.5575
Most Likely Scenario: Long positions above 1.5575 with targets @ 1.5675 & 1.5715 in extension.
Alternative scenario: Below 1.5575 look for further downside with 1.553 & 1.5475 as targets.
Comment: The RSI is bullish and calls for further upside.
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USD/JPY INTRADAY: UNDER PRESSURE. |
Pivot: 76.9
Most Likely Scenario: Short positions below 76.9 with targets @ 76.5 & 76.3 in extension.
Alternative scenario: Above 76.9 look for further upside with 77.1 & 77.2 as targets.
Comment: The RSI broke below a bullish trend line.
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AUD/USD INTRADAY: THE UPSIDE PREVAILS. |
Pivot: 0.98
Most Likely Scenario: Long positions above 0.98 with targets @ 0.995 & 0.999 in extension.
Alternative scenario: Below 0.98 look for further downside with 0.9725 & 0.9625 as targets.
Comment: The RSI is supported by a bullish trend line.
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GOLD (SPOT) INTRADAY: THE BIAS REMAINS BULLISH. |
Pivot: 1630.00
Most Likely Scenario: LONG positions above 1630 with 1680 & 1700 in sight.
Alternative scenario: The downside breakout of 1630 will open the way to 1600 & 1555.
Comment: Supported by a rising trend line.
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CRUDE OIL (NOV 11) INTRADAY: THE BIAS REMAINS BULLISH. |
Pivot: 82.50
Most Likely Scenario: LONG positions above 82.5 with targets @ 84.55 & 86.25.
Alternative scenario: The downside penetration of 82.5 will call for a slide towards 81 & 79.6.
Comment: The price stands in a bullish channel.
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