Gold                       3/7/2013

1 week Trend:   (=) 1 month Trend:  (=)
GOLD‏ (Spot) intraday: the bias remains bullish.
Pivot: 1233.00

Our preference: LONG positions above 1233 with 1271 & 1288 as next targets.

Alternative scenario: The downside penetration of 1233 will call for a slide towards 1223.5 & 1213.

Comment: the RSI lacks downward momentum.

Trend: ST Bearish; MT Bearish

Key levels Comment

1300** Intraday resistance
1288** Intraday resistance
1271** Intraday resistance
1245.75 Last
1233*** Intraday pivot point
1223.5** Fib retracement (50%)
1213** Fib retracement (61.8%)

USD/JPY                    3/7/2013

1 week Trend:  (=)  1 month Trend:   (=)
USD/JPY intraday: the bias remains bullish.
Pivot: 99.9

Our preference: Long positions above 99.9 with targets @ 100.8 & 101.2 in extension.

Alternative scenario: Below 99.9 look for further downside with 99.5 & 99.1 as targets.

Comment: the pair has struck against its resistance and is facing a pull back.

Key levels
101.75
101.2
100.8
100.441 last
99.9
99.5
99.1

GBP/USD                    3/7/2013

1 week Trend:   (=)  1 month Trend:  (=)
GBP/USD intraday: capped by a negative trend line.
Pivot: 1.519

Our preference: Short positions below 1.519 with targets @ 1.5105 & 1.5055 in extension.

Alternative scenario: Above 1.519 look for further upside with 1.5245 & 1.528 as targets.

Comment: the pair remains capped by a declining trend line and is breaking below its support.

Key levels
1.528
1.5245
1.519
1.5133 last
1.5105
1.5055
1.5015

EUR/USD                    3/7/2013
 

1 week Trend:  (=)  1 month Trend:  (=)
EUR/USD intraday: under pressure.
Pivot: 1.304

Our preference: Short positions below 1.304 with targets @ 1.292 & 1.2875 in extension.

Alternative scenario: Above 1.304 look for further upside with 1.31 & 1.315 as targets.

Comment: the pair has broken below its support and remains on the downside as the RSI is badly directed.

Key levels
1.315
1.31
1.304
1.29509 last
1.292
1.2875
1.284

Technical Analysis – Time MetaTrader4