Today Analysis 12-11-2012

EUR/USD intraday: under pressure. Pivot: 1.2745. Our preference: SHORT positions @ 1.2735 with targets @ 1.269 & 1.267. Alternative scenario: The upside penetration of 1.2745 will call for a rebound towards 1.2775 & 1.281. Comment: the pair stands below its resistance and remains under pressure.

GBP/USD intraday: the downside prevails. Pivot: 1.5925. Our preference: SHORT positions @ 1.5915 with 1.5875 & 1.585 as next targets. Alternative scenario: The upside penetration of 1.5925 will call for 1.5965 & 1.6015. Comment: the pair stands below its resistance and remains under pressure.

USD/CHF intraday: bullish bias above 0.944. Pivot: 0.944 Our preference: Long positions above 0.944 with targets @ 0.9495 & 0.9515 in extension. Alternative scenario: Below 0.944 look for further downside with 0.941 & 0.938 as targets. Comment: the pair stands above its support and remains on the upside.

USD/JPY intraday: under pressure. Pivot: 79.60. Our preference: SHORT positions below 79.6 with 79.3 & 79 in sight. Alternative scenario: The upside penetration of 79.6 will call for 79.8 & 80.3. Comment: the pair is rebounding but stands below its resistance.

AUD/USD intraday: rebound. Pivot: 1.0385 Our preference: Long positions above 1.0385 with targets @ 1.0445 & 1.0475 in extension. Alternative scenario: Below 1.0385 look for further downside with 1.0355 & 1.0325 as targets. Comment: the pair has just broken above a declining trend line.

GOLD (Spot) intraday: the bias remains bullish. Pivot: 1726.00 Our preference: LONG positions above 1726 with 1742 & 1752 as next targets. Alternative scenario: The downside breakout of 1726 will open the way to 1720 & 1711. Comment: technically, the RSI is above its neutrality area at 50.

SILVER (Spot) intraday: the bias remains bullish. Pivot: 32.40 Our preference: LONG positions above 32.4 with 33 & 33.25 in sight. Alternative scenario: The downside penetration of 32.4 will call for 32 & 31.62. Comment: the RSI is above its neutrality area at 50%.

Crude Oil (Dec 12) intraday: bounce. Pivot: 85.20 Our preference: LONG positions above 85.2 with targets @ 86.8 & 87.3. Alternative scenario: The downside breakout of 85.2 will open the way to 84.05 & 83.5. Comment: the RSI is above its neutrality area at 50%.