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PRE US OPEN, DAILY TECHNICAL ANALYSIS, 23 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: KEY RESISTANCE AT 1.3575. Pivot: 1.3575
Most Likely Scenario: Short positions below 1.3575 with targets @ 1.345 & 1.3385 in extension.
Alternative scenario: Above 1.3575 look for further upside with 1.363 & 1.37 as targets.
Comment: The pair has struck against its resistance and should face a weakness as the RSI is turning down.NEXT » GBP/USD INTRADAY: UNDER PRESSURE. Pivot: 1.552
Most Likely Scenario: Short positions below 1.552 with targets @ 1.537 & 1.5325 in extension.
Alternative scenario: Above 1.552 look for further upside with 1.5575 & 1.563 as targets.
Comment: The pair is posting a rebound but stands below its new strong resistance (50% Fibonacci retracement of the previous down move).« PREVIOUS | NEXT » USD/JPY INTRADAY: UNDER PRESSURE. Pivot: 76.55
Most Likely Scenario: Short positions below 76.55 with targets @ 76.1 & 75.95 in extension.
Alternative scenario: Above 76.55 look for further upside with 76.7 & 77 as targets.
Comment: The pair is under pressure and is approaching its suppport.« PREVIOUS | NEXT » AUD/USD INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 0.987
Most Likely Scenario: Short positions below 0.987 with targets @ 0.969 & 0.9545 in extension.
Alternative scenario: Above 0.987 look for further upside with 0.998 & 1.008 as targets.
Comment: The pair stands below its resistance and remains under pressure.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: KEY ST RESISTANCE AT 1756 Pivot: 1756.00
Most Likely Scenario: SHORT positions below 1756 with targets @ 1703 & 1682.
Alternative scenario: The upside penetration of 1756 will call for a rebound towards 1784 & 1800.
Comment: The RSI is capped by a bearish trend line.« PREVIOUS | NEXT » CRUDE OIL (NOV 11) INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 82.20
Most Likely Scenario: SHORT positions below 82.2 with 78.65 & 77.5 as next targets.
Alternative scenario: The upside penetration of 82.2 will call for a rebound towards 83.4 & 84.9.
Comment: The 50MA maintains downward pressure.
PRE EUROPEAN OPEN, DAILY TECHNICAL ANALYSIS, 22 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: 1.3610.
Most Likely Scenario: SHORT positions @ 1.36 with targets @ 1.3495 & 1.345.
Alternative scenario: The upside penetration of 1.361 will call for 1.37 & 1.38.
Comment: The pair remains on the downside and is approaching its previous low.
Trend: ST Consolidation; MT BearishNEXT » GBP/USD INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 1.5520.
Most Likely Scenario: SHORT positions @ 1.551 with 1.5425 & 1.537 as next targets.
Alternative scenario: The upside penetration of 1.552 will call for a rebound towards 1.5575 & 1.5635.
Comment: The pair stands below its new resistance (former support) and remains on the downside.« PREVIOUS | NEXT » USD/JPY INTRADAY: KEY ST RESISTANCE AT 77 Pivot: 77.00.
Most Likely Scenario: SHORT positions @ 76.95 with 76.5 & 76.25 in sight.
Alternative scenario: The upside penetration of 77 will call for 77.25 & 77.4.
Comment: The pair has struck against its strong resistance and should face a weakness.« PREVIOUS | NEXT » AUD/USD INTRADAY: THE DOWNSIDE PREVAILS. Pivot: 1.015
Most Likely Scenario: Short positions below 1.015 with targets @ 0.997 & 0.9915 in extension.
Alternative scenario: Above 1.015 look for further upside with 1.025 & 1.0315 as targets.
Comment: The RSI is capped by a bearish trend line.« PREVIOUS | NEXT » GOLD (SPOT) INTRADAY: KEY ST RESISTANCE AT 1810 Pivot: 1810.00
Most Likely Scenario: SHORT positions below 1810 with 1745 & 1725 in sight.
Alternative scenario: The upside penetration of 1810 will call for a rebound towards 1825 & 1840.
Comment: The validation of a symmetrical triangle calls for a new down leg.« PREVIOUS | NEXT » CRUDE OIL (NOV 11) INTRADAY: UNDER PRESSURE. Pivot: 85.25
Most Likely Scenario: SHORT positions below 85.25 with targets @ 83.75 & 82.85.
Alternative scenario: The upside penetration of 85.25 will call for a rebound towards 86.55 & 87.5.
Comment: The RSI is bearish and calls for further downside.