Gold                      29/7/2013

1 week Trend:   (=) 1 month Trend:  (=)
Gold MT: the downside prevails.
Pivot: 1365.

Our Preference: Bearish below 1365 with targets @ 1180 & 1080 in extension.

Alternative scenario: An upside breakout of 1365 would open the way towards 1550.

Comment: as long as 1365 is resistance, look for choppy price action with a bearish bias.

Trend: ST Ltd downside; MT Bearish, we have been bearish since 21 DEC 2012 (1667).

Key levels Comment

1550 Horizontal resistance
1488 Horizontal resistance
1365 Pivot point
1338 Last
1180 Horizontal support
1080 Horizontal support
1000 Horizontal support

AUD/USD              29/7/2013

1 week Trend:  (=) 1 month Trend:   (=)
AUD/USD intraday: bullish bias above 0.922.
Pivot: 0.922

Our preference: Long positions above 0.922 with targets @ 0.9305 & 0.934 in extension.

Alternative scenario: Below 0.922 look for further downside with 0.916 & 0.9125 as targets.

Comment: a support base at 0.922 has formed and has allowed for a temporary stabilisation.

Key levels
0.943
0.934
0.9305
0.9234 last
0.922
0.916
0.9125

USD/JPY                   29/7/2013

1 week Trend:   (=)  1 month Trend:  (=)
USD/JPY intraday: capped by a negative trend line.
Pivot: 98.4

Our preference: Short positions below 98.4 with targets @ 97.5 & 97.2 in extension.

Alternative scenario: Above 98.4 look for further upside with 99 & 99.35 as targets.

Comment: the pair remains capped by a declining trend line.

Key levels
99.35
99
98.4
98 last
97.5
97.2
96.9

EUR/USD                   29/7/2013
 

1 week Trend:  (=)  1 month Trend:  (=)
EUR/USD intraday: bullish bias above 1.325.
Pivot: 1.325

Our preference: Long positions above 1.325 with targets @ 1.33 & 1.337 in extension.

Alternative scenario: Below 1.325 look for further downside with 1.321 & 1.3175 as targets.

Comment: the upside breakout of 1.3255 maintains a bullish bias while the pair is trading in a Broadening Formation.

Key levels
1.3415
1.337
1.33
1.32658 last
1.325
1.321
1.3175

EUR/GBP                   29/7/2013

1 week Trend:  (=)  1 month Trend:  (=)
EUR/GBP intraday: bullish bias above 0.858.
Pivot: 0.858

Our preference: Long positions above 0.858 with targets @ 0.8645 & 0.8675 in extension.

Alternative scenario: Below 0.858 look for further downside with 0.8555 & 0.8525 as targets.

Comment: the pair remains on the upside and is challenging its resistance.

Key levels
0.871
0.8675
0.8645
0.86306 last
0.858
0.8555
0.8525

Technical Analysis – Time MetaTrader4