TECHNICAL ANALYSIS 3/10/2012

EURUSD Pivot: 1.2875 Our preference: Long positions above 1.2875 with targets @ 1.2985 & 1.303 in extension. Alternative scenario: Below 1.2875 look for further downside with 1.284 & 1.28 as targets. Comment: a support base at 1.2875 has formed and has allowed for a temporary stabilisation. Key levels 1.3045 1.303 1.2985 1.29034 last 1.2875 1.284 1.28

GBPUSD Pivot: 1.6165 Our preference: Short positions below 1.6165 with targets @ 1.607 & 1.604 in extension. Alternative scenario: Above 1.6165 look for further upside with 1.621 & 1.6245 as targets. Comment: the RSI is badly directed. Key levels 1.6245 1.621 1.6165 1.6129 last 1.607 1.604 1.6015

USDJPY Pivot: 78 Our preference: Long positions above 78 with targets @ 78.5 & 78.65 in extension. Alternative scenario: Below 78 look for further downside with 77.9 & 77.7 as targets. Comment: the RSI is bullish and calls for further upside. Key levels 78.75 78.65 78.5 78.22 last 78 77.9 77.7

EURJPY Pivot: 100.4 Our preference: Long positions above 100.4 with targets @ 101.25 & 101.65 in extension. Alternative scenario: Below 100.4 look for further downside with 100.2 & 99.75 as targets. Comment: the next resistances are at 101.25 and then at 101.65. Key levels 102.05 101.65 101.25 100.91 last 100.4 100.2 99.75

SILVER Pivot: 35.05 Our Preference: SHORT positions below 35.05 with 34.15 & 33.9 as next targets. Alternative scenario: The upside breakout of 35.05 will open the way to 35.4 & 35.6. Comment: the RSI is capped by a bearish trend line. Trend: ST Ltd upside; MT Bullish Key levels Comment 35.6** Intraday resistance 35.4* Intraday resistance 35.05** Intraday pivot point 34.515 Last 34.15** Intraday support 33.9** Intraday support 33.7** Intraday support

GOLD Pivot: 1770.00 Our Preference: LONG positions above 1770 with 1783 & 1791 as next targets. Alternative scenario: The downside breakout of 1770 will open the way to 1763 & 1759. Comment: the RSI is mixed and calls for caution. Trend: ST Ltd upside; MT Bullish Key levels Comment 1800* Intraday resistance 1791*** Horizontal resistance 1783** Intraday resistance 1772.65 Last 1770** Intraday pivot point 1763** Previous low 1759** Intraday support

NZDUSD Pivot: 0.8295 Our preference: Short positions below 0.8295 with targets @ 0.822 & 0.8185 in extension. Alternative scenario: Above 0.8295 look for further upside with 0.8335 & 0.8355 as targets. Comment: the RSI has broken down its 30 level. Key levels 0.8355 0.8335 0.8295 0.82399 last 0.822 0.8185 0.8165 ____________

_Pivot: 1.0315 Our preference: Short positions below 1.0315 with targets @ 1.017 & 1.015 in extension. Alternative scenario: Above 1.0315 look for further upside with 1.035 & 1.0405 as targets. Comment: the RSI has broken down its 30 level. Key levels 1.0405 1.035 1.0315 1.02264 last 1.017 1.015 1.009___________