Daily Technical Levels 17/08/2012 #1

Friday, August 17, 2012
Daily Technical Levels
Friday, August 17, 2012

EUR/USD  |   GBP/USD  |   USD/CHF  |   USD/JPY  |   AUD/USD  |   GOLD  |   SILVER  |   CRUDE OIL

 EUR/USD intraday: rebound.

Pivot: 1.2310.
Our Preference: LONG positions @ 1.232 with targets @ 1.2385 & 1.241.
Alternative scenario: The downside breakout of 1.231 will open the way to 1.228 & 1.225.
Comment: the pair is rebounding on its new support and should reach its previous high.

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 GBP/USD intraday: caution.

Pivot: 1.5690.
Our Preference: LONG positions above 1.569 with 1.5745 & 1.5765 as next targets.
Alternative scenario: The downside penetration of 1.569 will call for a slide towards 1.5655 & 1.5625.
Comment: the pair is pulling back on its support, caution.

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 USD/CHF intraday: under pressure.

Pivot: 0.98.
Our Preference: SHORT positions below 0.975 with 0.969 & 0.967 as next targets.
Alternative scenario: The upside penetration of 0.975 will call for a rebound towards 0.98 & 0.983.
Comment: the pair is rebounding and is approaching its resistance.

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 USD/JPY intraday: further advance.

Pivot: 79.05.
Our Preference: LONG positions above 79.05 with 79.4 & 79.5 as next targets.
Alternative scenario: The downside penetration of 79.05 will call for 78.8 & 78.6.
Comment: the pair has broken above its resistance and remains on the upside.

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 AUD/USD intraday: key ST resistance at 1.05.

Pivot: 1.05
Our preference: Short positions below 1.05 with targets @ 1.045 & 1.0415 in extension.
Alternative scenario: Above 1.05 look for further upside with 1.054 & 1.057 as targets.
Comment: the RSI broke below a bullish trend line.

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 GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1610.00
Our Preference: LONG positions above 1610 with 1623 & 1630 as next targets.
Alternative scenario: The downside penetration of 1610 will call for a slide towards 1606 & 1600.
Comment: the 50 period moving average is heading up and in support.

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 SILVER (Spot) intraday: further upside.

Pivot: 28.00
Our Preference: LONG positions above 28 with 28.35 & 28.45 as next targets.
Alternative scenario: The downside breakout of 28 will open the way to 27.71 & 27.48.
Comment: technically, the RSI is above its neutrality area at 50.

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 Crude Oil (Sep 12) intraday: the bias remains bullish.

Pivot: 94.50
Our Preference: LONG positions above 94.5 with 96 & 97 in sight.
Alternative scenario: The downside penetration of 94.5 will call for a slide towards 93.9 & 93.5.
Comment: the 50 period moving average is heading up and in support.

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