UWCFX Daily Technical Levels‏

Daily Technical Levels Thursday, July 12, 2012 EUR/USD  |   GBP/USD  |   USD/CHF  |   USD/JPY  |   AUD/USD  |   GOLD  |   SILVER  |   CRUDE OIL

EUR/USD intraday: under pressure. Pivot: 1.2280. Our Preference: SHORT positions @ 1.227 with 1.221 & 1.2195 in sight. Alternative scenario: The upside breakout of 1.228 will open the way to 1.2295 & 1.2325. Comment: the pair is posting a rebound but remains capped by a declining trend line. Next     GBP/USD intraday: under pressure. Pivot: 1.5550. Our Preference: SHORT positions @ 1.554 with targets @ 1.548 & 1.545. Alternative scenario: The upside penetration of 1.555 will call for 1.558 & 1.5605. Comment: the pair remains under pressure and is approaching its support.  Previous |  Next     USD/CHF intraday: the upside prevails. Pivot: 0.98. Our Preference: LONG positions @ 0.9765 with 0.983 & 0.9875 in sight. Alternative scenario: The downside breakout of 0.976 will open the way to 0.974 & 0.971. Comment: the pair has rebounded on its new support and remains on the upside.  Previous |  Next     USD/JPY intraday: rebound expected. Pivot: 79.35. Our Preference: LONG positions @ 79.4 with 79.8 & 80 as next targets. Alternative scenario: The downside penetration of 79.35 will call for 79.1 & 78.85. Comment: the pair is pulling back on its support ahead of a rebound.  Previous |  Next     AUD/USD intraday: turning down. 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: the RSI broke below a rising trend line.  Previous |  Next     GOLD (Spot) intraday: the downside prevails. Pivot: 1582.00 Our Preference: SHORT positions below 1582 with 1564 & 1557 as next targets. Alternative scenario: The upside breakout of 1582 will open the way to 1598 & 1611. Comment: as long as 1582 is resistance, look for choppy price action with a bearish bias.  Previous |  Next     SILVER (Spot) intraday: key ST resistance at 27.27 Pivot: 27.27 Our Preference: SHORT positions below 27.27 with 26.75 & 26.6 as next targets. Alternative scenario: The upside penetration of 27.27 will call for 27.55 & 28.05. Comment: as long as 27.27 is resistance, look for choppy price action with a bearish bias.  Previous |  Next     Crude Oil (Aug 12) intraday: further advance. Pivot: 84.60 Our Preference: LONG positions above 84.6 with 86.45 & 87.1 in sight. Alternative scenario: The downside penetration of 84.6 will call for a slide towards 84 & 83.3. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.