Tuesday, November 5, 2013
EUR/USD intraday: key ST resistance at 1.354
Pivot: 1.3540.
Preference: SHORT positions below 1.354 with 1.3455 & 1.341 in sight.
Alternative scenario: The upside penetration of 1.354 will call for 1.36 & 1.365.
Comment: the pair stands below its resistance and remains under pressure
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
USD/JPY intraday: under pressure.
Pivot: 98.70.
Preference: SHORT positions below 98.7 with 98.05 & 97.75 in sight.
Alternative scenario: The upside penetration of 98.7 will call for 99 & 99.3.
Comment: the pair is pulling back on its new resistance ahead of further weakness.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
GBP/USD intraday: key ST resistance at 1.6
Pivot: 1.6000.
Preference: SHORT positions below 1.6 with targets @ 1.589 & 1.5845.
Alternative scenario: The upside penetration of 1.6 will call for 1.608 & 1.612.
Comment: the pair stands below its resistance and remains under pressure.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
USD/CAD intraday: under pressure.
Pivot: 1.045
Preference: Short positions below 1.045 with targets @ 1.0395 & 1.036 in extension.
Alternative scenario: Above 1.045 look for further upside with 1.0495 & 1.054 as targets.
Comment: as long as the resistance at 1.045 is not surpassed, the risk of the break below 1.0395 remains high.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
EUR/GBP intraday: the downside prevails.
Pivot: 0.8480.
Preference: SHORT positions below 0.848 with 0.8445 & 0.842 in sight.
Alternative scenario: The upside penetration of 0.848 will call for 0.851 & 0.8545.
Comment: the pair remains under pressure and is challenging its support.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
Preference: SHORT positions below 0.848 with 0.8445 & 0.842 in sight.
Alternative scenario: The upside penetration of 0.848 will call for 0.851 & 0.8545.
Comment: the pair remains under pressure and is challenging its support.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
GOLD (Spot) intraday: the downside prevails.
Pivot: 1328.00
Preference: SHORT positions below 1328 with 1303 & 1290 in sight.
Alternative scenario: The upside penetration of 1328 will call for a rebound towards 1337 & 1348.
Comment: a break below 1303 would trigger a drop towards 1290.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
Preference: SHORT positions below 1328 with 1303 & 1290 in sight.
Alternative scenario: The upside penetration of 1328 will call for a rebound towards 1337 & 1348.
Comment: a break below 1303 would trigger a drop towards 1290.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
SILVER (Spot) intraday: under pressure.
Pivot: 22.40
Preference: SHORT positions below 22.4 with 21.45 & 21.1 in sight.
Alternative scenario: The upside breakout of 22.4 will open the way to 22.85 & 23.05.
Comment: the RSI is around its neutrality area at 50%.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
Preference: SHORT positions below 22.4 with 21.45 & 21.1 in sight.
Alternative scenario: The upside breakout of 22.4 will open the way to 22.85 & 23.05.
Comment: the RSI is around its neutrality area at 50%.
The red lines are the supports, the green lines are the resistances and the blue line is the pivot point (the key level where we would turn bullish from bearish, or bearish from bullish). There is no one-way for calculating our supports and resistances. We favour the use of Fibonacci levels (either via a retracement or a projection), along with classical technical levels (gaps, horizontal lines, etc.). The choice will depend on the current market configuration.
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