PRE US OPEN, DAILY TECHNICAL ANALYSIS, 19 OCTOBER 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: THE UPSIDE PREVAILS. Pivot: 1.3725
Most Likely Scenario: Long positions above 1.3725 with targets @ 1.389 & 1.3915 in extension.
Alternative scenario: Below 1.3725 look for further downside with 1.3655 & 1.3615 as targets.
Comment: The pair is on the upside and is breaking above its resistance.NEXT » GBP/USD INTRADAY: FURTHER ADVANCE. Pivot: 1.5725
Most Likely Scenario: Long positions above 1.5725 with targets @ 1.583 & 1.59 in extension.
Alternative scenario: Below 1.5725 look for further downside with 1.57 & 1.567 as targets.
Comment: The pair has broken above a declining trend line and should post further advance.« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 77
Most Likely Scenario: Short positions below 77 with targets @ 76.6 & 76.4 in extension.
Alternative scenario: Above 77 look for further upside with 77.2 & 77.5 as targets.
Comment: The pair is under pressure and is challenging its support, the RSI is capped by a declining trend line.« PREVIOUS | NEXT » AUD/USD INTRADAY: THE UPSIDE PREVAILS. Pivot: 1.022
Most Likely Scenario: Long positions above 1.022 with targets @ 1.0375 & 1.048 in extension.
Alternative scenario: Below 1.022 look for further downside with 1.015 & 1.012 as targets.
Comment: The pair is trading in an ascending channel.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: FURTHER UPSIDE. Pivot: 1643.00
Most Likely Scenario: LONG positions above 1643 with 1676 & 1695 in sight.
Alternative scenario: The downside penetration of 1643 will call for a slide towards 1627 & 1612.
Comment: The RSI broke above a declining trend line.« PREVIOUS | NEXT » CRUDE OIL (DEC 11) INTRADAY: THE BIAS REMAINS BULLISH. Pivot: 87.35
Most Likely Scenario: LONG positions above 87.35 with 89.75 & 90.45 in sight.
Alternative scenario: The downside penetration of 87.35 will call for a slide towards 85.75 & 85.1.
Comment: The RSI is mixed with a bullish bias.