Technical Analysis For 29 May 2012

EUR / USD intraday: under pressure.
Fulcrum (devaluation level): 1.26
Recomendation : short positions in 1259 with price targets at 1.2495 and 1.247.
Alternative scenario: to 1.26, we expect further upside movement with 1263 & 1.2685 as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.

GBP / USD intraday: under pressure.
Fulcrum (devaluation level): 1,571
Recomendation : short positions at 1:57 with price targets of 1565 and 1.5625.
Alternative scenario: on 1571, we expect further upward movement of 1574 and 1.5765 as price targets.
Technical Analysis Comment: the RSI is badly directed.

AUD / USD intraday: bullish trend of 0.98.
Fulcrum (devaluation level): 0.98
Recomendation : long positions over 0.98 with advanced course aims to 0.9885 and 0.9905.
Alternative scenario: below 0.98, we expect further downward movements with 0.9745 & 0971 as price targets.
Technical Analysis Comment: the fraction of 0.98 represents a positive signal, which has opened a way to 0.9885.

USD / CAD in the course of the day: consolidation.
Fulcrum (devaluation level): 1,027
Recomendation : short positions in 1027 with advanced course aims to 1.02 & 1015.
Alternative scenario: on 1027, we expect further upward movement of 1031 and 1.0345 as price targets.
Technical Analysis Comment: the break in 1027 is a negative signal, which has opened a way to 1.02.

USD / JPY intraday: under pressure.
Fulcrum (devaluation level): 79.65
Recomendation : short positions at 79.6 with price targets on 79.3 & 79.2.
Alternative scenario: above 79.65, we expect further upside movement with 79.8 & 80 as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.

EUR / JPY intraday: key short term resistance at 100.3.
Fulcrum (devaluation level): 100.3
Recomendation : short positions at 100.3 with advanced course aims to 99.35 & 98.75.
Alternative scenario: on 100.3, we expect further upside with 100.85 & 101.55 movements as price targets.
Technical Analysis Comment: as long as the resistance at 100.3 is not exceeded, the risk of fracture remains high at 99.35.