TECHNICAL ANALYSIS 1/11/2012

eurusd Pivot: 1.295 Our preference: Long positions above 1.295 with targets @ 1.302 & 1.305 in extension. Alternative scenario: Below 1.295 look for further downside with 1.292 & 1.288 as targets. Comment: a support base at 1.295 has formed and has allowed for a temporary stabilisation. Key levels 1.308 1.305 1.302 1.2965 last 1.295 1.292 1.288 _______________

gbpusd Pivot: 1.6085 Our preference: Long positions above 1.6085 with targets @ 1.614 & 1.6155 in extension. Alternative scenario: Below 1.6085 look for further downside with 1.6035 & 1.6015 as targets. Comment: the next resistances are at 1.614 and then at 1.6155. Key levels 1.6175 1.6155 1.614 1.6127 last 1.6085 1.6035 1.6015

usdjpy Pivot: 79.75 Our preference: Long positions above 79.75 with targets @ 80.3 & 80.4 in extension. Alternative scenario: Below 79.75 look for further downside with 79.65 & 79.5 as targets. Comment: the RSI is bullish and calls for further advance. Key levels 80.5 80.4 80.3 80.078 last 79.75 79.65 79.5

eurjpy Pivot: 103.3 Our preference: Long positions above 103.3 with targets @ 104 & 104.2 in extension. Alternative scenario: Below 103.3 look for further downside with 103 & 102.75 as targets. Comment: the next resistances are at 104 and then at 104.2. Key levels 104.4 104.2 104 103.82 last 103.3 103 102.75

gold Pivot: 1708.00 Our preference: LONG positions above 1708 with 1730 & 1735 in sight. Alternative scenario: The downside breakout of 1708 will open the way to 1698 & 1687. Comment: the RSI is mixed and calls for caution. Trend: ST Consolidation; MT Ltd upside Key levels Comment 1742** Intraday resistance 1735** Fib retracement (38.2%) 1730** Intraday resistance 1720.78 Last 1708** Intraday pivot point 1698*** Intraday support 1687** Intraday support

nzdusd Pivot: 0.8235 Our preference: Short positions below 0.8235 with targets @ 0.818 & 0.815 in extension. Alternative scenario: Above 0.8235 look for further upside with 0.8255 & 0.827 as targets. Comment: as long as 0.8235 is resistance, look for choppy price action with a bearish bias. Key levels 0.827 0.8255 0.8235 0.82195 last 0.818 0.815 0.8125

audusd Pivot: 1.034 Our preference: Long positions above 1.034 with targets @ 1.04 & 1.0415 in extension. Alternative scenario: Below 1.034 look for further downside with 1.032 & 1.03 as targets. Comment: the RSI lacks downward momentum. Key levels 1.043 1.0415 1.04 1.03734 last 1.034 1.032 1.03