PRE US OPEN, Daily Technical Analysis

EUR/USD intraday: the downside prevails.

Pivot: 1.351

Most Likely Scenario : Short positions below 1.351 with targets @ 1.341 & 1.339 in extension.

Alternative scenario : Above 1.351 look for further upside with 1.355 & 1.359 as targets.

Comment : the pair has broken below its support and should face a further weakness as the RSI is badly directed.

GBP/USD intraday: under pressure.

Pivot: 1.608

Most Likely Scenario : Short positions below 1.608 with targets @ 1.5965 & 1.589 in extension.

Alternative scenario : Above 1.608 look for further upside with 1.6125 & 1.617 as targets.

Comment : the RSI is badly directed, the pair has struck against its resistance and should face a further weakness.

USD/JPY intraday: caution.

Pivot: 83.5

Most Likely Scenario : Short positions below 83.5 with targets @ 83.05 & 82.8 in extension.

Alternative scenario : Above 83.5 look for further upside with 83.75 & 83.95 as targets.

Comment : the pair is posting a rebound on its support but remains under pressure.

AUD/USD intraday: under pressure.

Pivot: 1.0075

Most Likely Scenario : Short positions below 1.0075 with targets @ 0.999 & 0.996 in extension.

Alternative scenario : Above 1.0075 look for further upside with 1.011 & 1.014 as targets.

Comment : the pair has struck against its resistance and should face a further weakness as the RSI is badly directed.

GOLD (Spot) intraday: caution

Pivot: 1353.50

Most Likely Scenario : LONG positions above 1353.5 with 1366 & 1375 in sight.

Alternative scenario : The downside breakout of 1353.5 will open the way to 1350 & 1345.

Comment : the price remains above its support base. The RSI is mixed and calls for caution.

Trend : ST Range; MT Bullish

Crude Oil (Mar 11) intraday: rebound expected.
Pivot: 85.10

Most Likely Scenario : LONG positions above 85.1 with targets @ 86.8 & 87.9.

Alternative scenario : The downside penetration of 85.1 will call for a slide towards 83.5 & 82.

Comment : the RSI is breaking above a declining trend line. Rebound expected.

Trend : ST Ltd upside; MT Range