UWCFX Daily Technical Levels‏

Daily Technical Levels Thursday, August 02, 2012 EUR/USD  |   GBP/USD  |   USD/CHF  |   USD/JPY  |   AUD/USD  |   GOLD  |   SILVER  |   CRUDE OIL

EUR/USD intraday: under pressure. Pivot: 1.2330. Our Preference: SHORT positions below 1.233 with 1.222 & 1.217 in sight. Alternative scenario: The upside breakout of 1.233 will open the way to 1.239 & 1.244. Comment: as long as the resistance at 1.233 is not surpassed, the risk of the break below 1.222 remains high. Next     GBP/USD intraday: the downside prevails. Pivot: 1.5615. Our Preference: SHORT positions @ 1.5605 with 1.5515 & 1.547 as next targets. Alternative scenario: The upside penetration of 1.5615 will call for 1.564 & 1.567. Comment: the RSI is capped by a declining trend line.  Previous |  Next     USD/CHF intraday: bullish bias above 0.9735 Pivot: 0.97. Our Preference: LONG positions @ 0.9745 with 0.9865 & 0.989 in sight. Alternative scenario: The downside penetration of 0.9735 will call for 0.969 & 0.965. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.  Previous |  Next     USD/JPY intraday: bullish bias above 78.25 Pivot: 78.25. Our Preference: LONG positions @ 78.35 with 78.65 & 78.75 in sight. Alternative scenario: The downside penetration of 78.25 will call for 77.9 & 77.75. Comment: the break above 78.25 is a positive signal that has opened a path to 78.65.  Previous |  Next     AUD/USD intraday: key ST resistance at 1.05. Pivot: 1.05 Our preference: Short positions below 1.05 with targets @ 1.042 & 1.038 in extension. Alternative scenario: Above 1.05 look for further upside with 1.054 & 1.06 as targets. Comment: as long as 1.05 is resistance, look for choppy price action with a bearish bias.  Previous |  Next     GOLD (Spot) intraday: the downside prevails. Pivot: 1611.00 Our Preference: SHORT positions below 1611 with 1589 & 1585 in sight. Alternative scenario: The upside breakout of 1611 will open the way to 1619 & 1630. Comment: as long as 1611 is resistance, look for choppy price action with a bearish bias.  Previous |  Next     SILVER (Spot) intraday: key ST resistance at 27.8 Pivot: 27.80 Our Preference: SHORT positions below 27.8 with targets @ 27.1 & 26.8. Alternative scenario: The upside penetration of 27.8 will call for a rebound towards 28.05 & 28.35. Comment: technically, the RSI is below its neutrality area at 50.  Previous |  Next     Crude Oil (Sep 12) intraday: the bias remains bullish. Pivot: 87.30 Our Preference: LONG positions above 87.3 with 89.45 & 90.3 as next targets. Alternative scenario: The downside breakout of 87.3 will open the way to 86.8 & 86.05. Comment: the RSI is above its neutrality area at 50%.