TECHNICAL ANALYSIS 8/10/2012

EURUSD Pivot: 1.303 Our preference: Short positions below 1.303 with targets @ 1.294 & 1.2875 in extension. Alternative scenario: Above 1.303 look for further upside with 1.3085 & 1.3135 as targets. Comment: the RSI is bearish and calls for further downside. Key levels 1.3135 1.3085 1.303 1.299 last 1.294 1.2875 1.2835

GBPUSD Pivot: 1.6175 Our preference: Short positions below 1.6175 with targets @ 1.6065 & 1.603 in extension. Alternative scenario: Above 1.6175 look for further upside with 1.6215 & 1.6245 as targets. Comment: the RSI is bearish and calls for further decline. Key levels 1.6245 1.6215 1.6175 1.6109 last 1.6065 1.603 1.6015

USDJPY Pivot: 78.4 Our preference: Long positions above 78.4 with targets @ 78.85 & 79.2 in extension. Alternative scenario: Below 78.4 look for further downside with 78.3 & 78.05 as targets. Comment: a support base at 78.4 has formed and has allowed for a temporary stabilisation. Key levels 79.4 79.2 78.85 78.548 last 78.4 78.3 78.05

EURJPY Pivot: 101.8 Our preference: Long positions above 101.8 with targets @ 102.85 & 103.2 in extension. Alternative scenario: Below 101.8 look for further downside with 101.2 & 100.95 as targets. Comment: intraday technical indicators are mixed and call for caution. Key levels 103.6 103.2 102.85 102.056 last 101.8 101.2 100.95

GOLD Pivot: 1782.00 Our Preference: SHORT positions below 1782 with 1763 & 1759 as next targets. Alternative scenario: The upside breakout of 1782 will open the way to 1788 & 1795. Comment: the RSI is bearish and calls for further decline. Trend: ST Ltd upside; MT Bullish Key levels Comment 1795*** Previous high 1788** Horizontal resistance 1782** Intraday pivot point 1772.08 Last 1763** Intraday support 1759** Intraday support 1750** Intraday support

NZDUSD Pivot: 0.8225 Our preference: Short positions below 0.8225 with targets @ 0.815 & 0.8135 in extension. Alternative scenario: Above 0.8225 look for further upside with 0.8265 & 0.8285 as targets. Comment: as long as 0.8225 is resistance, likely decline to 0.815. Key levels 0.8285 0.8265 0.8225 0.8182 last 0.815 0.8135 0.8125

AUDUSD Pivot: 1.0235 Our preference: Short positions below 1.0235 with targets @ 1.012 & 1.008 in extension. Alternative scenario: Above 1.0235 look for further upside with 1.0275 & 1.032 as targets. Comment: as long as 1.0235 is resistance, likely decline to 1.012. Key levels 1.032 1.0275 1.0235 1.01679 last 1.012 1.008 1.0065