Daily Review 27.06.2012
EUR/USD
Our preference: Short positions below 1.2540 with targets 1.2440 & 1.2400 in extension.
Alternative scenario: Above 1.254 look for further upside with 1.2580 & 1.2640 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.2540.
GBP/USD
Our preference: Short positions below 1.5650 with targets 1.5570 & 1.5530 in extension.
Alternative scenario: Above 1.5650 look for further upside with 1.5685 & 1.573 as targets.
Comment: as long as 1.5650 is resistance, look for choppy price action with a bearish bias.
GOLD
Our Preference: SHORT positions below 1582 with 1560 & 1554 in sight.
Alternative scenario: The upside penetration of 1582 will call for a rebound towards 1582 & 1588.
Comment: the RSI is bearish and calls for further downside.
WTI - Crude Oil
Our Preference: LONG positions above 78.00 with 80.35 & 81.00 as next targets.
Alternative scenario: The downside penetration of 78.00 will call for 77.60 & 77.00.
Comment: supported by a rising trend line.
