TECHNICAL ANALYSIS 03/12/2012

eurusd Pivot: 1.3070. Our preference: LONG positions above 1.307 with 1.3135 & 1.3165 as next targets. Alternative scenario: The downside penetration of 1.307 will call for a slide towards 1.303 & 1.3. Comment: the pair is trading in a bullish channel Trend: ST Ltd Downside; MT Range Key levels Comment 1.32** Fib projection 1.3165*** Horizontal resistance 1.3135* Intraday resistance 1.3106 Last 1.307*** Intraday pivot point 1.303** Fib retracement (38.2%) 1.3** Fib retracement (50%)

gbpusd Pivot: 1.6080. Our preference: LONG positions @ 1.609 with targets @ 1.614 & 1.617. Alternative scenario: The downside breakout of 1.608 will open the way to 1.6045 & 1.6025. Comment: a support base at 1.608 has formed and has allowed for a temporary stabilisation. Trend: ST Ltd Downside; MT Range Key levels Comment 1.6215* Intraday resistance 1.617* Intraday resistance 1.614* Intraday resistance 1.6104 Last 1.608*** Intraday pivot point 1.6045* Fib retracement (50%) 1.6025*** Fib retracement (61.8%)

eurusd Pivot: 1.299 Our preference: Long positions above 1.299 with targets @ 1.306 & 1.308 in extension. Alternative scenario: Below 1.299 look for further downside with 1.296 & 1.2935 as targets. Comment: the next resistances are at 1.306 and then at 1.308. Key levels 1.311 1.308 1.306 1.30406 last 1.299 1.296 1.2935 ________

gbpusd Pivot: 1.6015 Our preference: Long positions above 1.6015 with targets @ 1.6065 & 1.608 in extension. Alternative scenario: Below 1.6015 look for further downside with 1.5985 & 1.597 as targets. Comment: the next resistances are at 1.6065 and then at 1.608. Key levels 1.6105 1.608 1.6065 1.6039 last 1.6015 1.5985 1.597

usdjpy Pivot: 82.3 Our preference: Long positions above 82.3 with targets @ 82.85 & 83.1 in extension. Alternative scenario: Below 82.3 look for further downside with 82.2 & 82 as targets. Comment: a support base at 82.3 has formed and has allowed for a temporary stabilisation. Key levels 83.3 83.1 82.85 82.42 last 82.3 82.2 82

eurjpy Pivot: 106.8 Our preference: Long positions above 106.8 with targets @ 107.65 & 107.95 in extension. Alternative scenario: Below 106.8 look for further downside with 106.4 & 106.1 as targets. Comment: the next resistances are at 107.65 and then at 107.95. Key levels 108.3 107.95 107.65 107.466 last 106.8 106.4 106.1

gold Pivot: 1703.00 Our preference: LONG positions above 1703 with 1731 & 1736 as next targets. Alternative scenario: The downside penetration of 1703 will call for 1698 & 1694. Comment: the RSI advocates for further upside. Trend: ST Bullish; MT Ltd upside Key levels Comment 1745** Intraday resistance 1736** Intraday resistance 1731*** Horizontal resistance 1718.52 Last 1703*** Intraday pivot point 1698** Intraday support 1694** Intraday support

nzdusd Pivot: 0.821 Our preference: Short positions below 0.821 with targets @ 0.8165 & 0.8135 in extension. Alternative scenario: Above 0.821 look for further upside with 0.823 & 0.825 as targets. Comment: as long as 0.821 is resistance, look for choppy price action with a bearish bias. Key levels 0.825 0.823 0.821 0.81988 last 0.8165 0.8135 0.8105

audusd Pivot: 1.0445 Our preference: Short positions below 1.0445 with targets @ 1.039 & 1.0365 in extension. Alternative scenario: Above 1.0445 look for further upside with 1.0465 & 1.049 as targets. Comment: as long as 1.0445 is resistance, likely decline to 1.039. Key levels 1.049 1.0465 1.0445 1.0413 last 1.039 1.0365 1.0335