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| PRE EUROPEAN OPEN, DAILY TECHNICAL ANALYSIS, 27 DECEMBER 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: UNDER PRESSURE. |
Pivot: 1.3100.
Most Likely Scenario: SHORT positions below 1.31 with 1.302 & 1.298 in sight.
Alternative scenario: The upside breakout of 1.31 will open the way to 1.313 & 1.3195.
Comment: The pair is posting a rebound but stands below its resistance.
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| GBP/USD INTRADAY: UNDER PRESSURE. |
Pivot: 1.5660.
Most Likely Scenario: SHORT positions below 1.566 with targets @ 1.5575 & 1.5545.
Alternative scenario: The upside breakout of 1.566 will open the way to 1.5705 & 1.5725.
Comment: The pair is rebounding but stands below its resistance.
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| USD/JPY INTRADAY: UNDER PRESSURE. |
Pivot: 78.10.
Most Likely Scenario: SHORT positions below 78.1 with 77.8 & 77.65 as next targets.
Alternative scenario: The upside penetration of 78.1 will call for 78.2 & 78.3.
Comment: The pair is under pressure and is challenging its support.
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| AUD/USD INTRADAY: INTRADAY SUPPORT AROUND 1.012. |
Pivot: 1.012
Most Likely Scenario: Long positions above 1.012 with targets @ 1.022 & 1.0265 in extension.
Alternative scenario: Below 1.012 look for further downside with 1.0085 & 1.0055 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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| GOLD (SPOT) INTRADAY: KEY ST RESISTANCE AT 1603 |
Pivot: 1603.00
Most Likely Scenario: SHORT positions below 1603 with 1582 & 1575 as next targets.
Alternative scenario: The upside breakout of 1603 will open the way to 1613.5 & 1617.
Comment: The RSI is capped by a bearish trend line.
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