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| PRE EUROPEAN OPEN, DAILY TECHNICAL ANALYSIS, 28 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 penetration of 1.31 will call for a rebound towards 1.313 & 1.3195.
Comment: The pair remains under pressure and is challenging its rising trend line. |
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| GBP/USD INTRADAY: THE UPSIDE PREVAILS. |
Pivot: 1.5610.
Most Likely Scenario: LONG positions above 1.561 with targets @ 1.5705 & 1.5725.
Alternative scenario: The downside penetration of 1.561 will call for 1.5575 & 1.5545.
Comment: The pair stands above its new support, the RSI is mixed to bullish. |
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| USD/JPY INTRADAY: UNDER PRESSURE. |
Pivot: 77.95.
Most Likely Scenario: SHORT positions below 77.95 with targets @ 77.7 & 77.65.
Alternative scenario: The upside penetration of 77.95 will call for a rebound towards 78.1 & 78.2.
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: A support base at 1.012 has formed and has allowed for a temporary stabilisation. |
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| GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1600.00
Most Likely Scenario: SHORT positions below 1600 with targets @ 1582 & 1575.
Alternative scenario: The upside breakout of 1600 will open the way to 1610 & 1617.
Comment: The break below 1600 is a negative signal that has opened a path to 1582. |
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