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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 11 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: INTRADAY SUPPORT AROUND 1.357. |
Pivot: 1.357
Most Likely Scenario: Long positions above 1.357 with targets @ 1.37 & 1.376 in extension.
Alternative scenario: Below 1.357 look for further downside with 1.352 & 1.347 as targets.
Comment: The RSI lacks downward momentum.
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GBP/USD INTRADAY: INTRADAY SUPPORT AROUND 1.561. |
Pivot: 1.561
Most Likely Scenario: Long positions above 1.561 with targets @ 1.569 & 1.5715 in extension.
Alternative scenario: Below 1.561 look for further downside with 1.558 & 1.553 as targets.
Comment: The RSI is mixed with a bullish bias.
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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 upward potential is likely to be limited by the resistance at 76.9.
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AUD/USD INTRADAY: SUPPORTED BY A RISING TREND LINE. |
Pivot: 0.988
Most Likely Scenario: Long positions above 0.988 with targets @ 1.001 & 1.005 in extension.
Alternative scenario: Below 0.988 look for further downside with 0.98 & 0.9725 as targets.
Comment: The RSI lacks downward momentum.
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GOLD (SPOT) INTRADAY: FURTHER UPSIDE. |
Pivot: 1645.00
Most Likely Scenario: LONG positions above 1645 with targets @ 1685 & 1700.
Alternative scenario: The downside penetration of 1645 will call for 1630 & 1600.
Comment: The price remains in a bullish channel.
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CRUDE OIL (NOV 11) INTRADAY: THE BIAS REMAINS BULLISH. |
Pivot: 84.00
Most Likely Scenario: LONG positions above 84 with 86.25 & 87.95 as next targets.
Alternative scenario: The downside penetration of 84 will call for 81.5 & 80.
Comment: The price is challenging its bullish channel support.
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