Technical Analysis For June 01 2012

EUR / USD intraday: capped by a negative trend line.
Fulcrum (devaluation level): 1,243
Recomendation : short positions in 1241 with price targets for 1231 and 1.2295.
Alternative scenario: on 1243, we expect further upward movement of 1247 and 1.2505 as price targets.
Technical Analysis Comment: as long as resistance remains 1243, we expect a volatile price movement with bearish trend.

GBP / USD intraday: capped by a negative trend line.
Fulcrum (devaluation level): 1.5465
Recomendation : short positions at 1.5455 with target prices for 1533 and 1.5275.
Alternative scenario: above 1.5465, we expect further upward movement of 1553 and 1.5575 as price targets.
Technical Analysis Comment: as long as the resistance at 1.5465 is not exceeded, the risk of fracture remains high at 1,533.

AUD / USD intraday: under pressure.
Fulcrum (devaluation level): 0976
Recomendation : short positions in 0976 with expanded course objectives to 0962 and 0.96.
Alternative scenario: on 0976, we expect further upward movement of 0.98 and 0986 as price targets.
Technical Analysis Comment: the RSI lacks upward momentum.

USD / CAD in the course of the day: 1.0375 in sight.
Fulcrum (devaluation level): 1.0305
Recomendation : long positions on 1.0305 with targets at 1.0375 and advanced course 1.04.
Alternative scenario: below 1.0305, we expect further downward movements with 1.0255 & 1.0215 as price targets.
Technical Analysis Comment: the RSI is bullish and calls for further increases.

USD / JPY intraday: the downward movement will prevail.
Fulcrum (devaluation level): 78.7
Recomendation : short positions at 78.6 with price targets on 78.2 & 77.75.
Alternative scenario: above 78.7, we expect further upside with 78.9 & 79.1 movements as price targets.

EUR / JPY intraday: capped by a negative trend line.
Fulcrum (devaluation level): 97.35
Recomendation : short positions at 97.35 with wider price targets at 96.45 and 95.9.
Alternative scenario: above 97.35, we expect further upside movement with 98 & 98.45 as price targets.
Technical Analysis Comment: the RSI is bearish and calls for a further decline.