Daily Technical Analysis Pre EU 2nd November 2011

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PRE EUROPEAN OPEN, Daily Technical analysis, 02 November 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: under pressure. Pivot: 1.3800. Most Likely Scenario: SHORT positions below 1.38 with 1.3605 & 1.3565 as next targets. Alternative scenario: The upside penetration of 1.38 will call for a rebound towards 1.386 & 1.395. Comment: The pair is posting a rebound but stands below its new resistance. Trend: ST Consolidation; MT Bearish Next » GBP/USD intraday: under pressure. Pivot: 1.6035. Most Likely Scenario: SHORT positions below 1.6035 with 1.589 & 1.582 in sight. Alternative scenario: The upside penetration of 1.6035 will call for a rebound towards 1.609 & 1.615. Comment: The pair has rebounded on its support but stands below its resistance. « Previous | Next » USD/JPY intraday: under pressure. Pivot: 79.00. Most Likely Scenario: SHORT positions below 79 with 77.2 & 76.5 in sight. Alternative scenario: The upside penetration of 79 will call for 79.5 & 80.1. Comment: The pair stands below its resistance and should face a weakness. « Previous | Next » AUD/USD intraday: capped by a negative trend line. Pivot: 1.0435 Most Likely Scenario: Short positions below 1.0435 with targets @ 1.0275 & 1.02 in extension. Alternative scenario: Above 1.0435 look for further upside with 1.05 & 1.061 as targets. Comment: The upward potential is likely to be limited by the resistance at 1.0435. « Previous | Next » GOLD (Spot) intraday: the bias remains bullish. Pivot: 1704.00 Most Likely Scenario: LONG positions above 1704 with targets @ 1732 & 1745. Alternative scenario: The downside penetration of 1704 will call for a slide towards 1692 & 1681. Comment: The RSI broke above a declining trend line. « Previous | Next » Crude Oil (Dec 11) intraday: the downside prevails. Pivot: 92.25 Most Likely Scenario: SHORT positions below 92.25 with targets @ 90 & 89.45. Alternative scenario: The upside penetration of 92.25 will call for 92.85 & 93.85. Comment: The RSI is capped by a bearish trend line. « 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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