Tuesday, April 30, 2013

FXPRO : PRE EUROPEAN OPEN, DAILY ANALYSIS, 30 APRIL 2013




PRE EUROPEAN OPEN, DAILY ANALYSIS, 30 APRIL 2013
EUR/USDGBP/USDUSD/JPYAUD/USDGOLDCRUDE 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: THE BIAS REMAINS BULLISH.
Pivot: 1.3040.

Most Likely Scenario: LONG positions above 1.304 with 1.313 & 1.3165 as next targets.

Alternative scenario: The downside breakout of 1.304 will open the way to 1.3015 & 1.2995.

Comment: the pair stands above its support and remains on the upside.
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GBP/USD INTRADAY: THE UPSIDE PREVAILS.
Pivot: 1.5470.

Most Likely Scenario: LONG positions above 1.547 with targets @ 1.554 & 1.5565.

Alternative scenario: The downside penetration of 1.547 will call for 1.5445 & 1.541.

Comment: the pair is rebounding on its support as the RSI is reversing up.
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USD/JPY INTRADAY: KEY ST RESISTANCE AT 98.45
Pivot: 98.45.

Most Likely Scenario: SHORT positions below 98.45 with 97.2 & 96.55 in sight.

Alternative scenario: The upside penetration of 98.45 will call for 98.95 & 99.6.

Comment: the pair stands below its new resistance and remains on the downside, the RSI is badly directed.
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AUD/USD INTRADAY: BULLISH BIAS ABOVE 1.0325.
Pivot: 1.0325

Most Likely Scenario: Long positions above 1.0325 with targets @ 1.0375 & 1.0395 in extension.

Alternative scenario: Below 1.0325 look for further downside with 1.0295 & 1.028 as targets.

Comment: the break above 1.0325 is a positive signal that has opened a path to 1.0375.
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GOLD (SPOT) INTRADAY: TURNING DOWN.
Pivot: 1485.00

Most Likely Scenario: SHORT positions below 1485 with targets @ 1448 & 1418.

Alternative scenario: The upside breakout of 1485 will open the way to 1507 & 1539.

Comment: gold prices have broken below a rising trend line and are capped the declining 20-day moving average (currently at 1474).
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CRUDE OIL (JUN 13) INTRADAY: THE BIAS REMAINS BULLISH.
Pivot: 92.00

Most Likely Scenario: LONG positions above 92 with 95.1 & 96.15 in sight.

Alternative scenario: The downside penetration of 92 will call for a slide towards 91.1 & 90.3.

Comment: the RSI is above its neutrality area at 50%.
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