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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 26 SEPTEMBER 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: CAUTION. |
Pivot: 1.3485
Most Likely Scenario: Short positions below 1.3485 with targets @ 1.336 & 1.332 in extension.
Alternative scenario: Above 1.3485 look for further upside with 1.3575 & 1.363 as targets.
Comment: The pair is posting a rebound but stands below its resistance, the RSI lacks upward momentum.
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GBP/USD INTRADAY: REBOUND. |
Pivot: 1.542
Most Likely Scenario: Long positions above 1.542 with targets @ 1.5525 & 1.5575 in extension.
Alternative scenario: Below 1.542 look for further downside with 1.537 & 1.5325 as targets.
Comment: The pair is on the upside and is breaking above its resistance as the RSI has broken above its declining trend line.
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USD/JPY INTRADAY: CONSOLIDATION. |
Pivot: 76.6
Most Likely Scenario: Short positions below 76.6 with targets @ 76.1 & 75.95 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, the RSI is mixed to bearish.
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AUD/USD INTRADAY: UNDER PRESSURE. |
Pivot: 0.986
Most Likely Scenario: Short positions below 0.986 with targets @ 0.962 & 0.9545 in extension.
Alternative scenario: Above 0.986 look for further upside with 0.998 & 1.015 as targets.
Comment: The upward potential is likely to be limited by the resistance at 0.986.
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GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1632.00
Most Likely Scenario: SHORT positions below 1632 with targets @ 1592 & 1565.
Alternative scenario: The upside penetration of 1632 will call for a rebound towards 1665 & 1690.
Comment: The index currently faces a challenging resistance area at 1632.
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CRUDE OIL (NOV 11) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 80.00
Most Likely Scenario: SHORT positions below 80 with targets @ 77.5 & 76.6.
Alternative scenario: The upside breakout of 80 will open the way to 80.84 & 81.7.
Comment: The index currently faces a challenging resistance area at 80.
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