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| PRE US OPEN, DAILY TECHNICAL ANALYSIS, 22 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: 1.312
Most Likely Scenario: Short positions below 1.312 with targets @ 1.302 & 1.298 in extension.
Alternative scenario: Above 1.312 look for further upside with 1.314 & 1.3195 as targets.
Comment: The RSI is badly directed, the pair is breaking below its support.
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| GBP/USD INTRADAY: REBOUND. |
Pivot: 1.565
Most Likely Scenario: Long positions above 1.565 with targets @ 1.575 & 1.5775 in extension.
Alternative scenario: Below 1.565 look for further downside with 1.562 & 1.5565 as targets.
Comment: The pair is rebounding on its support and should post further advance.
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| USD/JPY INTRADAY: THE UPSIDE PREVAILS. |
Pivot: 77.8
Most Likely Scenario: Long positions above 77.8 with targets @ 78.15 & 78.35 in extension.
Alternative scenario: Below 77.8 look for further downside with 77.65 & 77.45 as targets.
Comment: The pair is on the upside and is challenging its resistance.
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| AUD/USD INTRADAY: FURTHER ADVANCE. |
Pivot: 1.0055
Most Likely Scenario: Long positions above 1.0055 with targets @ 1.016 & 1.022 in extension.
Alternative scenario: Below 1.0055 look for further downside with 1 & 0.9975 as targets.
Comment: The RSI is bullish and calls for further upside.
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| GOLD (SPOT) INTRADAY: UNDER PRESSURE. |
Pivot: 1617.00
Most Likely Scenario: SHORT positions below 1617 with targets @ 1600 & 1582.
Alternative scenario: The upside penetration of 1617 will call for a rebound towards 1641.5 & 1650.
Comment: As long as the resistance at 1617 is not surpassed, the risk of the break below 1600 remains high.
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