Monday, May 6, 2013

FXPRO : Daily Technical Analysis - Pre US Open - 6th May 2013



PRE US OPEN, DAILY TECHNICAL ANALYSIS, 06 MAY 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: UNDER PRESSURE.
Pivot: 1.315

Most Likely Scenario: Short positions below 1.315 with targets @ 1.3075 & 1.3035 in extension.

Alternative scenario: Above 1.315 look for further upside with 1.318 & 1.322 as targets.

Comment: the pair stands below its new resistance and remains on the downside as the RSI is badly directed.
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GBP/USD INTRADAY: THE BIAS REMAINS BULLISH.
Pivot: 1.554

Most Likely Scenario: Long positions above 1.554 with targets @ 1.5605 & 1.5635 in extension.

Alternative scenario: Below 1.554 look for further downside with 1.551 & 1.547 as targets.

Comment: the pair has struck against its resistance and is facing a pull back.
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USD/JPY INTRADAY: THE UPSIDE PREVAILS.
Pivot: 98.8

Most Likely Scenario: Long positions above 98.8 with targets @ 99.5 & 99.75 in extension.

Alternative scenario: Below 98.8 look for further downside with 98.4 & 98.1 as targets.

Comment: the pair remains on the upside and is approaching its resistance.
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AUD/USD INTRADAY: UNDER PRESSURE.
Pivot: 1.029

Most Likely Scenario: Short positions below 1.029 with targets @ 1.024 & 1.022 in extension.

Alternative scenario: Above 1.029 look for further upside with 1.032 & 1.0355 as targets.

Comment: as long as 1.029 is resistance, look for choppy price action with a bearish bias.
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GOLD (SPOT) INTRADAY: FURTHER ADVANCE.
Pivot: 1463.00

Most Likely Scenario: LONG positions above 1463 with 1486 & 1491.5 in sight.

Alternative scenario: The downside breakout of 1463 will open the way to 1441 & 1418.

Comment: a support base at 1463 has formed and has allowed for a temporary stabilisation.
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CRUDE OIL (JUN 13) INTRADAY: FURTHER ADVANCE.
Pivot: 95.35

Most Likely Scenario: LONG positions above 95.35 with 97.2 & 98 in sight.

Alternative scenario: The downside penetration of 95.35 will call for a slide towards 94.7 & 93.55.

Comment: the RSI has just landed on its neutrality area at 50%.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Flag Counter Visit Us www.deryworldscorp.web.id Visit Us www.deryworldscorp.asia

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