UWCFX Daily Technical Levels‏

Daily Technical Levels Tuesday, July 10, 2012 EUR/USD  |   GBP/USD  |   USD/CHF  |   USD/JPY  |   AUD/USD  |   GOLD  |   SILVER  |   CRUDE OIL

EUR/USD intraday: the downside prevails. Pivot: 1.2325. Our Preference: SHORT positions @ 1.2315 with 1.225 & 1.221 as next targets. Alternative scenario: The upside penetration of 1.2325 will call for a rebound towards 1.2365 & 1.24. Comment: the pair has validated a bearish flag and should face further weakness. Next     GBP/USD intraday: rebound. Pivot: 1.5490. Our Preference: LONG positions above 1.549 with 1.555 & 1.558 in sight. Alternative scenario: The downside breakout of 1.549 will open the way to 1.545 & 1.5425. Comment: the pair has broken above a declining trend line.  Previous |  Next     USD/CHF intraday: the upside prevails. Pivot: 0.97. Our Preference: LONG positions above 0.974 with targets @ 0.98 & 0.9825. Alternative scenario: The downside breakout of 0.974 will open the way to 0.971 & 0.968. Comment: the pair has validated a bullish flag and should post further advance.  Previous |  Next     USD/JPY intraday: under pressure. Pivot: 79.80. Our Preference: SHORT positions @ 79.75 with targets @ 79.4 & 79.2. Alternative scenario: The upside breakout of 79.8 will open the way to 80.1 & 80.35. Comment: the pair remains under pressure and is challenging its support.  Previous |  Next     AUD/USD intraday: key ST resistance at 1.024. Pivot: 1.024 Our preference: Short positions below 1.024 with targets @ 1.015 & 1.0125 in extension. Alternative scenario: Above 1.024 look for further upside with 1.028 & 1.0325 as targets. Comment: as long as 1.024 is resistance, look for choppy price action with a bearish bias.  Previous |  Next     GOLD (Spot) intraday: bullish bias above 1576 Pivot: 1576.00 Our Preference: LONG positions above 1576 with targets @ 1598 & 1604. Alternative scenario: The downside penetration of 1576 will call for 1564 & 1557. Comment: the immediate trend remains down but the momentum is weak.  Previous |  Next     SILVER (Spot) intraday: bullish bias above 26.9 Pivot: 26.90 Our Preference: LONG positions above 26.9 with targets @ 27.5 & 27.7. Alternative scenario: The downside penetration of 26.9 will call for a slide towards 26.6 & 26.25. Comment: the RSI is around its neutrality area at 50%.  Previous |  Next     Crude Oil (Aug 12) intraday: the bias remains bullish. Pivot: 84.00 Our Preference: LONG positions above 84 with targets @ 86.5 & 88. Alternative scenario: The downside penetration of 84 will call for a slide towards 83.3 & 82.2. Comment: the immediate trend remains down but the momentum is weak.