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| PRE EUROPEAN OPEN, DAILY TECHNICAL LEVELS, 30 SEPTEMBER 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: THE DOWNSIDE PREVAILS. |
Pivot: 1.3600.
Most Likely Scenario: SHORT positions below 1.36 with 1.3475 & 1.3425 in sight.
Alternative scenario: The upside breakout of 1.36 will open the way to 1.366 & 1.369.
Comment: the RSI is capped by a declining trend line.
Trend: ST Consolidation; MT Bearish
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| GBP/USD INTRADAY: UNDER PRESSURE. |
Pivot: 1.5665.
Most Likely Scenario: SHORT positions below 1.5665 with 1.5545 & 1.5525 in sight.
Alternative scenario: The upside penetration of 1.5665 will call for 1.5715 & 1.575.
Comment: the pair has broken below a rising trend line and technically, the RSI is below its neutrality area at 50.
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| USD/JPY INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 76.95.
Most Likely Scenario: SHORT positions below 76.95 with 76.35 & 76.25 as next targets.
Alternative scenario: The upside breakout of 76.95 will open the way to 77.1 & 77.3.
Comment: the 120-min RSI has broken below a key rising trend line.
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| AUD/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE. |
Pivot: 0.985
Most Likely Scenario: Short positions below 0.985 with targets @ 0.97 & 0.9625 in extension.
Alternative scenario: Above 0.985 look for further upside with 0.9945 & 0.9985 as targets.
Comment: the RSI is capped by a declining trend line.
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| GOLD (SPOT) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 1653.00
Most Likely Scenario: SHORT positions below 1653 with 1604 & 1585 in sight.
Alternative scenario: The upside breakout of 1653 will open the way to 1670 & 1690.
Comment: the RSI is bearish and calls for further decline.
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| CRUDE OIL (NOV 11) INTRADAY: THE DOWNSIDE PREVAILS. |
Pivot: 84.95
Most Likely Scenario: SHORT positions below 84.95 with 81.75 & 80 as next targets.
Alternative scenario: The upside breakout of 84.95 will open the way to 85.8 & 87.5.
Comment: the upward potential is likely to be limited by the resistance at 84.95.
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