Daily Technical Levels
10 March 2010
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EUR/USD GBP/USD USD/JPY USD/CHF Gold Crude

EUR/USD intraday: capped by a negative trend line.
Pivot: 1.368
Our preference: Short positions below 1.368 with targets @ 1.3585 & 1.354 in extension.
Alternative scenario: Above 1.368 look for further upside with 1.371 & 1.374 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.368.

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GBP/USD intraday: key ST resistance at 1.5.
Pivot: 1.5
Our preference: Short positions below 1.5 with targets @ 1.488 & 1.4785 in extension.
Alternative scenario: Above 1.5 look for further upside with 1.507 & 1.5115 as targets.
Comment: the RSI lacks upward momentum.

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USD/JPY intraday: the upside prevails.
Pivot: 90.25
Our preference: Long positions above 90.25 with targets @ 90.85 & 91.25 in extension.
Alternative scenario: Below 90.25 look for further downside with 89.95 & 89.7 as targets.
Comment: the RSI is well directed, the pair is on the upside and is breaking above its previous high.

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USD/CHF intraday: rebound expected.
Pivot: 1.0685
Our preference: Long positions above 1.0685 with targets @ 1.074 & 1.0775 in extension.
Alternative scenario: Below 1.0685 look for further downside with 1.065 & 1.063 as targets.
Comment: the pair is pulling back on its support, the RSI is mixed and calls for caution.

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GOLD (Spot) intraday: further upside.
Pivot: 1115.00
Our Preference: LONG positions above 1115 with 1131 & 1138 in sight.
Alternative scenario: The downside breakout of 1115 will open the way to 1108 & 1098.
Comment: the price has validated a inverted head and shoulders pattern, calling for further upside.
Trend: ST Bullish; MT Bullish

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Crude Oil (Apr 10) intraday: the downside prevails.
Pivot: 82.40
Our Preference: SHORT positions below 82.4 with targets @ 79.7 & 79.
Alternative scenario: The upside penetration of 82.4 will call for a rebound towards 83.2 & 85.
Comment: the 30 min RSI is capped by a declining trend line.
Trend: ST Ltd upside; MT Range

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