Technical Analysis for May 31 2012

EUR / USD intraday: under pressure.
Fulcrum (devaluation level): 1.2455
Recomendation : short positions at 1.2435 with target prices for 1234 & 1231.
Alternative scenario: above 1.2455, we expect further upward movement of 1249 and 1252 as price targets.
Technical Analysis Comment: as long as 1.2455 resistance remains, we expect a volatile price movement with bearish trend.

GBP / USD intraday: the downward movement will prevail.
Fulcrum (devaluation level): 1.555
Recomendation : short positions in 1553 with price targets for 1545 and 1.54.
Alternative scenario: on 1555, we expect further upward movement of 1559 and 1562 as price targets.
Technical Analysis Comment: the RSI lacks upward momentum.

AUD / USD intraday: the downward movement will prevail.
Fulcrum (devaluation level): 0.975
Recomendation : short positions in 0975 with expanded price targets on 0965 & 0962.
Alternative scenario: on 0975, we expect further upward movement of 0981 and 0986 as price targets.
Technical Analysis Comment: 0975 while resistance remains is to await a return to 0965.

USD / CAD in the course of the day: bullish trend of 1.0267.
Fulcrum (devaluation level): 1.0267
Recomendation : long positions over extended with 1.0267 & 1.0345 1,031 price targets.
Alternative scenario: below 1.0267, we expect further downside with 1.024 & 1.0215 movements as price targets.
Technical Analysis Comment: The next resistances are at 1.0345 and then 1031.

USD / JPY intraday: the downward movement will prevail.
Fulcrum (devaluation level): 79.1
Recomendation : short positions at 79 with price targets of 78.55 & 78.45.
Alternative scenario: above 79.1, we expect further upside with 79.3 & 79.4 movements as price targets.

EUR / JPY intraday: the downward movement will prevail.
Fulcrum (devaluation level): 98
Recomendation : short positions below 98 with advanced course aims to 97.2 & 97th
Alternative scenario: above 98, we expect further upward movement of 98.45 and 98.7 as price targets.
Technical Analysis Comment: as long as 98 resistance remains is to await a return to 97.2.