[FindYourFX market technical analysis -2012/7/27 Pre EU Open]

Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out. We will not have any responsibilities for any issues caused by this analysis report.

[EURUSD]
Intraday Highlight: Bullish bias above 1.2215
Pivot:1.2215
Most Likely Scenario: Long positions above 1.2215 with targets at 1.232 and 1.236 in extension
Alternative scenario: Below 1.2215 look for further downside with 1.217 and 1.214 as targets
Comments: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

[GBPUSD]
Intraday Highlight: Bullish bias above 1.563
Pivot:1.563
Most Likely Scenario: Long positions above 1.563 with targets at 1.5725 and 1.5755 in extension
Alternative scenario: Below 1.563 look for further downside with 1.559 and 1.555 as targets
Comments:  the RSI is above its neutrality area at 50%.

[USDJPY]
Intraday Highlight: Bearish bias below 78.45
Pivot:78.45
Most Likely Scenario: Short positions below 78.45 with targets at 77.9 and 77.75 in extension
Alternative scenario: Above 78.45 look for further upside with 78.65 and 78.8 as targets
Comments: as long as the resistance at 78.45 is not surpassed, the risk of the break below 77.9 remains high.

[AUDUSD]
Intraday Highlight: Bullish bias above 1.03
Pivot:1.03
Most Likely Scenario: Long positions above 1.03 with targets at 1.0445 and 1.049 in extension
Alternative scenario: Below 1.03 look for further downside with 1.025 and 1.018 as targets
Comments: the RSI is above its neutrality area at 50%.

[NZDUSD]
Intraday Highlight: Bullish bias above 0.7935
Pivot:0.7935
Most Likely Scenario: Long positions above 0.7935 with targets at 0.8035 and 0.806 in extension
Alternative scenario: Below 0.7935 look for further downside with 0.789 and 0.7845 as targets
Comments: the next resistances are at 0.8035 and then at 0.806.

[USDCHF]
Intraday Highlight: Bearish bias below 0.98
Pivot:0.98
Most Likely Scenario: Short positions below 0.98 with targets at 0.974 and 0.971 in extension
Alternative scenario: Above 0.98 look for further upside with 0.9865 and 0.989 as targets
Comments:  as long as the resistance at 0.982 is not surpassed, the risk of the break below 0.974 remains high.

[USDCAD]
Intraday Highlight:  capped by a negative trend line.
Pivot:1.0135
Most Likely Scenario: Short positions below 1.0135 with targets at 1.006 and 1.002 in extension
Alternative scenario: Above 1.0135 look for further upside with 1.016 and 1.02 as targets
Comments:  the RSI is capped by a bearish trend line.

[GOLDS]
Intraday Highlight: Bullish bias above 16.8
Pivot:16.8
Most Likely Scenario: Long positions above 16.8 with targets at 1623 and 1630 in extension
Alternative scenario: Below 16.8 look for further downside with 1598 and 1589 as targets
Comments: the RSI has just landed on its neutrality area at 50% and is turning up.

Article Source: www.findyourfx.com

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