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Weekly Outlook 3rd May 2011

May 3, 2011

Technical Commentary

TECHNICAL COMMENTARY

Currency

Sup 2

Sup 1

Spot

Res 1

Res 2

EUR/USD

1.4633

1.4769

1.4790

1.4905

1.5000

USD/JPY

80.89

81.27

81.55

82.28

83.27

GBP/USD

1.6432

1.6500

1.6680

1.6747

1.6846

AUD/USD

1.0775

1.0852

&nbsp 1.0935

1.1000

1.1100

XAU/USD

1501.00

1524

1556

1569

1600

OIL/USD

110.00

112.00

112.30

114.00

115.00

&nbsp

Euro&nbsp 1.4790&nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp

Initial support at 1.4769 (April 28 Low) followed by 1.4633 (Apr 27 low). Initial resistance is now located at 1.4905 (Dec 7 2009 high) followed by 1.5000 (Big Figure Resistance)

Yen 81.55

Initial support is located at 81.27 (Mar 27 low) followed by 80.89 (50% retrace of 76.25-85.53). Initial resistance is now at 82.28 (Apr 28 low) followed by 83.27 (Apr 18 High).

Pound&nbsp 1.6680

Initial support at 1.6500 (psychological support) followed by 1.6432 (Apr 26 low). Initial resistance is now at 1.6747 (Apr 28 high) followed by 1.6846 (Nov 18, 2009).

Australian Dollar&nbsp 1.0935

Initial support at 1.0852 (Apr 28 low) followed by the 1.0775 (Apr 27 low). Initial resistance is now at 1.1000 (big figure resistance) followed by 1.1100 (big figure resistance).

Gold&nbsp 1556

Initial support at 1524 (Apr 28 low) followed by 1501 (Apr 27 low). Initial resistance is now at 1569 (Apr 29 high) followed by 1600 (Big level resistance).

Oil 112.30

Initial support at 112.00 (Intraday Support) followed by 110.00 (Intraday Support). Initial resistance is now at 114.00 (Intraday resistance) followed by 115.00 (Intraday Resistance).

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