|  | | PRE EUROPEAN OPEN, DAILY TECHNICAL ANALYSIS, 25 NOVEMBER 2011 |
| | | 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 DOWNSIDE PREVAILS. |
Pivot: 1.3370.
Most Likely Scenario: SHORT positions below 1.337 with 1.3275 & 1.324 in sight.
Alternative scenario: The upside penetration of 1.337 will call for 1.341 & 1.343.
Comment: The pair remains on the downside, and the RSI is capped by a bearish trend line.
Trend: ST Consolidation; MT Bearish |
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| GBP/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE. |
Pivot: 1.5500.
Most Likely Scenario: SHORT positions below 1.55 with 1.5435 & 1.54 as next targets.
Alternative scenario: The upside penetration of 1.55 will call for a rebound towards 1.553 & 1.557.
Comment: The pair remains capped by a bearish trend line, and the RSI is badly directed. |
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| USD/JPY INTRADAY: REBOUND EXPECTED. |
Pivot: 77.10.
Most Likely Scenario: LONG positions above 77.1 with targets @ 77.6 & 77.75.
Alternative scenario: The downside breakout of 77.1 will open the way to 76.98 & 76.85.
Comment: The pair is bouncing off from its rising support, and should post a new rise. |
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| AUD/USD INTRADAY: KEY ST RESISTANCE AT 0.981. |
Pivot: 0.981
Most Likely Scenario: Short positions below 0.981 with targets @ 0.9655 & 0.9595 in extension.
Alternative scenario: Above 0.981 look for further upside with 0.989 & 0.994 as targets.
Comment: As long as 0.981 is resistance, likely decline to 0.9655. |
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| GOLD (SPOT) INTRADAY: KEY ST RESISTANCE AT 1702 |
Pivot: 1702.00
Most Likely Scenario: SHORT positions below 1702 with 1680 & 1667 as next targets.
Alternative scenario: The upside breakout of 1702 will open the way to 1712 & 1725.
Comment: The RSI has just struck against its neutrality area at 50% and is reversing down. |
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| CRUDE OIL (JAN 12) INTRADAY: TOWARDS 95.2 |
Pivot: 97.30
Most Likely Scenario: SHORT positions below 97.3 with 95.6 & 95.2 in sight.
Alternative scenario: The upside penetration of 97.3 will call for a rebound towards 98 & 98.5.
Comment: The RSI is bearish and calls for further downside. |
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