Pre US Open, Daily Technical Analysis Wednesday, September 04, - TopicsExpress



          

Pre US Open, Daily Technical Analysis Wednesday, September 04, 2013 EUR/USD GBP/USD USD/JPY AUD/USD Gold Crude Oil Info 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: capped by a negative trend line. Prev Prev arrow Next Next arrow Pivot: 1.318 Most Likely Scenario: Short positions below 1.318 with targets @ 1.314 & 1.312 in extension. Alternative scenario: Above 1.318 look for further upside with 1.32 & 1.3225 as targets. Comment: the pair is rebounding and is challenging its declining trend line. GBP/USD intraday: the upside prevails. Prev Prev arrow Next Next arrow Pivot: 1.555 Most Likely Scenario: Long positions above 1.555 with targets @ 1.5615 & 1.5635 in extension. Alternative scenario: Below 1.555 look for further downside with 1.5525 & 1.55 as targets. Comment: the pair remains on the upside and is challenging its previous intraday high. USD/JPY intraday: the upside prevails. Prev Prev arrow Next Next arrow Pivot: 99.15 Most Likely Scenario: Long positions above 99.15 with targets @ 99.95 & 100.45 in extension. Alternative scenario: Below 99.15 look for further downside with 98.75 & 98.25 as targets. Comment: the pair is facing a pull back on its support. AUD/USD intraday: supported by a rising trend line. Prev Prev arrow Next Next arrow Pivot: 0.9065 Most Likely Scenario: Long positions above 0.9065 with targets @ 0.916 & 0.919 in extension. Alternative scenario: Below 0.9065 look for further downside with 0.9005 & 0.897 as targets. Comment: the pair is supported by a rising trend line and intraday technical indicators are on the upside. GOLD (Spot) intraday: rebound expected. Prev Prev arrow Next Next arrow Pivot: 1398.00 Most Likely Scenario: LONG positions above 1398 with targets @ 1416 & 1423. Alternative scenario: The downside penetration of 1398 will call for a slide towards 1385 & 1374. Comment: the RSI is negative but supported by a strong support. Crude Oil (Oct 13) intraday: the bias remains bullish. Prev Prev arrow Top Top arrow Pivot: 107.00 Most Likely Scenario: LONG positions above 107 with 109.15 & 110 in sight. Alternative scenario: The downside penetration of 107 will call for a slide towards 105.5 & 104.3. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Posted on: Wed, 04 Sep 2013 12:00:08 +0000

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