Daily Technical Analysis - Pre US Open - 17th Oct 2011

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PRE US OPEN, Daily Technical Analysis, 17 October 2011

EUR/USD GBP/USD USD/JPY AUD/USD Gold Crude Oil

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: supported by a rising trend line. Pivot: 1.38 Most Likely Scenario: Long positions above 1.38 with targets @ 1.39 & 1.394 in extension. Alternative scenario: Below 1.38 look for further downside with 1.375 & 1.3725 as targets. Comment: the pair has struck against its resistance and is pulling back on its rising trend line. Next » GBP/USD intraday: turning down. Pivot: 1.5825 Most Likely Scenario: Short positions below 1.5825 with targets @ 1.572 & 1.567 in extension. Alternative scenario: Above 1.5825 look for further upside with 1.5855 & 1.591 as targets. Comment: the pair is breaking below its MT rising trend line and should face further weakness. « Previous | Next » USD/JPY intraday: the upside prevails. Pivot: 77 Most Likely Scenario: Long positions above 77 with targets @ 77.5 & 77.7 in extension. Alternative scenario: Below 77 look for further downside with 76.75 & 76.6 as targets. Comment: the pair has rebounded on its support and is challenging its resistance. « Previous | Next » AUD/USD intraday: bullish bias above 1.02. Pivot: 1.02 Most Likely Scenario: Long positions above 1.02 with targets @ 1.039 & 1.053 in extension. Alternative scenario: Below 1.02 look for further downside with 1.01 & 1.002 as targets. Comment: the RSI is supported by a rising trend line. « Previous | Next » GOLD (Spot) intraday: further upside. Pivot: 1670.00 Most Likely Scenario: LONG positions above 1670 with 1715 & 1737 as next targets. Alternative scenario: The downside penetration of 1670 will call for a slide towards 1661 & 1654. Comment: the price remains in a bullish channel. « Previous | Next » Crude Oil (Dec 11) intraday: the bias remains bullish. Pivot: 86.40 Most Likely Scenario: LONG positions above 86.4 with 88.85 & 89.85 as next targets. Alternative scenario: The downside breakout of 86.4 will open the way to 85.5 & 85. Comment: the break above 86.4 is a positive signal that has opened a path to 88.85. « Previous | BACK TO TOP » Disclaimer Copyright The information contained in this publication is produced by TRADING Central and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING Central current judgment and may change without notice. TRADING Central is not registered in France as an Investment Services Provider but complies with the following rules and directives, including: - General Regulation Handbook of the AMF, Book III, Title III, Chapter VII "Investment Analysts Not Associated with an Investment Services Provider" - EU Commission Directive 2006/73 dated 10 August 2006, Articles 24 and 25 - EU Commission Directive 2004/39 dated 21 April 2004 - EU Commission Directive 2003/125 dated 22 December 2003

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