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| PRE US 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: 1.31
Most Likely Scenario: Short positions below 1.31 with targets @ 1.302 & 1.298 in extension.
Alternative scenario: Above 1.31 look for further upside with 1.313 & 1.3195 as targets.
Comment: The pair is rebounding but stands below its resistance. |
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| GBP/USD INTRADAY: REBOUND. |
Pivot: 1.561
Most Likely Scenario: Long positions above 1.561 with targets @ 1.5705 & 1.5725 in extension.
Alternative scenario: Below 1.561 look for further downside with 1.5575 & 1.5545 as targets.
Comment: The pair is pulling back on its support ahead of a rebound. |
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| USD/JPY INTRADAY: CONSOLIDATION. |
Pivot: 78.1
Most Likely Scenario: Short positions below 78.1 with targets @ 77.8 & 77.65 in extension.
Alternative scenario: Above 78.1 look for further upside with 78.2 & 78.28 as targets.
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 targets @ 1582 & 1575.
Alternative scenario: The upside breakout of 1603 will open the way to 1613.5 & 1617.
Comment: The break below 1603 is a negative signal that has opened a path to 1582. |
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