FX Forex Market Technical Analysis

Forex Trading Technical Analysis for the 15. July 2011

Technical Analysis for the following Currencies:

EUR/USD, USD /CAD, USD/JPY, AUD/USD, GBP/USD, EUR/JPY, EUR/CHF

All Data are 6:30 am + 2 GMT

EUR/USD INTRADAY: THE UPSIDE PREVAILS.
Pivot: 1.4110.
Most Likely Scenario: LONG positions above 1.411 with targets @ 1.4225 & 1.4285.
Alternative scenario: The downside penetration of 1.411 will call for a slide towards 1.4035 & 1.395.
Comment: The pair stands above its support and should post a rebound.
Trend: ST Ltd Upside; MT Range

GBP/USD INTRADAY: THE UPSIDE PREVAILS.

Pivot: 1.6100.

Most Likely Scenario: LONG positions @ 1.611 with targets @ 1.62 & 1.6225.
Alternative scenario: The downside breakout of 1.61 will open the way to 1.6075 & 1.603.
Comment: The pair remains on the upside and is challenging its resistance.

USD/JPY INTRADAY: REBOUND.
Pivot: 78.85.
Most Likely Scenario: LONG positions @ 78.9 with 79.5 & 79.9 as next targets.
Alternative scenario: The downside penetration of 78.85 will call for a slide towards 78.5 & 78.2.
Comment: The pair has rebounded on its support and remains on the upside.

AUD/USD INTRADAY: THE UPSIDE PREVAILS.
Pivot: 1.0695
Most Likely Scenario: Long positions above 1.0695 with targets @ 1.079 & 1.083 in extension.
Alternative scenario: Below 1.0695 look for further downside with 1.066 & 1.062 as targets.
Comment: The pair has rebounded on its support and should post further up move.

GOLD (SPOT) INTRADAY: THE BIAS REMAINS BULLISH.
Pivot: 1570.00
Most Likely Scenario: LONG positions above 1570 with targets @ 1595 & 1605.
Alternative scenario: The downside penetration of 1570 will call for a slide towards 1563 & 1554.
Comment: The price is supported by a rising trend line.

CRUDE OIL (SEP 11) INTRADAY: REBOUND IN SIGHT.
Pivot: 95.00
Most Likely Scenario: LONG positions above 95 with 97 & 98 in sight.
Alternative scenario: The downside breakout of 95 will open the way to 94 & 93.25.
Comment: The price is supported by a rising trend line.