| Pre US Open, Daily Technical Analysis Friday, June 03, 2016 |
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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. | |
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| | EUR/USD Intraday: under pressure. |
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| |  | | | Pivot: 1.1190
Most Likely Scenario: short positions below 1.1190 with targets @ 1.1115 & 1.1095 in extension.
Alternative scenario: above 1.1190 look for further upside with 1.1215 & 1.1235 as targets.
Comment: as long as the resistance at 1.1190 is not surpassed, the risk of the break below 1.1115 remains high.
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| | GBP/USD Intraday: the downside prevails. |
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| |  | | | Pivot: 1.4465
Most Likely Scenario: short positions below 1.4465 with targets @ 1.4375 & 1.4335 in extension.
Alternative scenario: above 1.4465 look for further upside with 1.4510 & 1.4565 as targets.
Comment: the RSI lacks upward momentum.
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| | USD/JPY Intraday: the downside prevails. |
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| |  | | | Pivot: 109.30
Most Likely Scenario: short positions below 109.30 with targets @ 108.50 & 108.20 in extension.
Alternative scenario: above 109.30 look for further upside with 109.70 & 110.15 as targets.
Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.
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| | AUD/USD Intraday: caution. |
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| |  | | | Pivot: 0.7265
Most Likely Scenario: short positions below 0.7265 with targets @ 0.7200 & 0.7170 in extension.
Alternative scenario: above 0.7265 look for further upside with 0.7280 & 0.7300 as targets.
Comment: the RSI is mixed and calls for caution.
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| | Gold spot Intraday: further advance. |
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| |  | | | Pivot: 1205.80
Most Likely Scenario: long positions above 1205.80 with targets @ 1217.60 & 1220.50 in extension.
Alternative scenario: below 1205.80 look for further downside with 1203.00 & 1199.50 as targets.
Comment: the RSI is mixed to bullish.
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| | Crude Oil (WTI) (N6) Intraday: key resistance at 49.41. |
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| |  | | | Pivot: 49.41
Most Likely Scenario: short positions below 49.41 with targets @ 48.85 & 48.45 in extension.
Alternative scenario: above 49.41 look for further upside with 49.72 & 50.10 as targets.
Comment: the upward potential is likely to be limited by the resistance at 49.41.
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