TECHNICAL ANALYSIS 5/10/2012

EURUSD Pivot: 1.2955 Our preference: Long positions above 1.2955 with targets @ 1.304 & 1.3075 in extension. Alternative scenario: Below 1.2955 look for further downside with 1.2925 & 1.2875 as targets. Comment: technically, the RSI is above its neutrality area at 50. Key levels 1.3085 1.3075 1.304 1.3017 last 1.2955 1.2925 1.2875

GBPUSD Pivot: 1.6125 Our preference: Long positions above 1.6125 with targets @ 1.6215 & 1.6245 in extension. Alternative scenario: Below 1.6125 look for further downside with 1.61 & 1.6065 as targets. Comment: the RSI is bullish and calls for further upside. Key levels 1.6270 1.6245 1.6215 1.6194 last 1.6125 1.61 1.6065

USDJPY Pivot: 78.3 Our preference: Long positions above 78.3 with targets @ 78.7 & 78.85 in extension. Alternative scenario: Below 78.3 look for further downside with 78.2 & 78.05 as targets. Comment: the RSI broke above a declining trend line. Key levels 78.95 78.85 78.7 78.546 last 78.3 78.2 78.05

EURJPY Pivot: 101.6 Our preference: Long positions above 101.6 with targets @ 102.55 & 102.85 in extension. Alternative scenario: Below 101.6 look for further downside with 101.2 & 100.95 as targets. Comment: intraday technical indicators are mixed and call for caution. Key levels 103.05 102.85 102.55 101.898 last 101.6 101.2 100.95

GOLD ivot: 1782.00 Our Preference: LONG positions above 1782 with 1800 & 1810 in sight. Alternative scenario: The downside penetration of 1782 will call for 1770 & 1763. Comment: the RSI broke above a declining trend line. Trend: ST Ltd upside; MT Bullish Key levels Comment 1823* Fib projection 1810** Fib projection 1800*** Horizontal resistance 1795.08 Last 1782** Intraday pivot point 1770** Intraday support 1763** Previous low

NZDUSD Pivot: 0.818 Our preference: Long positions above 0.818 with targets @ 0.8245 & 0.8265 in extension. Alternative scenario: Below 0.818 look for further downside with 0.815 & 0.813 as targets. Comment: the RSI is above its neutrality area at 50%. Key levels 0.8285 0.8265 0.8245 0.8219 last 0.818 0.815 0.813

AUDUSD Pivot: 1.02 Our preference: Long positions above 1.02 with targets @ 1.029 & 1.032 in extension. Alternative scenario: Below 1.02 look for further downside with 1.018 & 1.015 as targets. Comment: the RSI advocates for further advance. Key levels 1.035 1.032 1.029 1.0256 last 1.02 1.018 1.015