| Pre US Open, Daily Technical Analysis Friday, June 10, 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: 1.1355
Most Likely Scenario: short positions below 1.1355 with targets @ 1.1285 & 1.1255 in extension.
Alternative scenario: above 1.1355 look for further upside with 1.1390 & 1.1415 as targets.
Comment: the RSI is mixed to bearish.
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| | GBP/USD Intraday: the downside prevails. |
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| | | | | Pivot: 1.4530
Most Likely Scenario: short positions below 1.4530 with targets @ 1.4365 & 1.4330 in extension.
Alternative scenario: above 1.4530 look for further upside with 1.4600 & 1.4665 as targets.
Comment: the RSI is capped by a declining trend line.
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| | USD/JPY Intraday: the upside prevails. |
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| | | | | Pivot: 106.65
Most Likely Scenario: long positions above 106.65 with targets @ 107.45 & 107.90 in extension.
Alternative scenario: below 106.65 look for further downside with 106.35 & 106.00 as targets.
Comment: the RSI lacks upward momentum.
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| | AUD/USD Intraday: the downside prevails. |
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| | | | | Pivot: 0.7470
Most Likely Scenario: short positions below 0.7470 with targets @ 0.7380 & 0.7355 in extension.
Alternative scenario: above 0.7470 look for further upside with 0.7505 & 0.7545 as targets.
Comment: as long as 0.7470 is resistance, look for choppy price action with a bearish bias.
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| | Gold spot Intraday: bullish bias above 1257.00. |
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| | | | | Pivot: 1257.00
Most Likely Scenario: long positions above 1257.00 with targets @ 1276.00 & 1282.00 in extension.
Alternative scenario: below 1257.00 look for further downside with 1246.00 & 1234.50 as targets.
Comment: a support base at 1257.00 has formed and has allowed for a temporary stabilisation.
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