Daily Technical Levels 20/08/2012 #1

Daily Technical Levels Monday, August 20, 2012

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

EUR/USD intraday: under pressure. Pivot: 1.2340. Our Preference: SHORT positions below 1.234 with targets @ 1.2305 & 1.228. Alternative scenario: The upside penetration of 1.234 will call for 1.236 & 1.2385. Comment: the pair is challenging its new resistance (former support). Next   GBP/USD intraday: under pressure. Pivot: 1.5725. Our Preference: SHORT positions below 1.5725 with 1.5655 & 1.5625 as next targets. Alternative scenario: The upside breakout of 1.5725 will open the way to 1.5745 & 1.577. Comment: the pair remains under pressure and is approaching its support.  Previous |  Next   USD/CHF intraday: rebound. Pivot: 0.97. Our Preference: LONG positions above 0.971 with 0.9775 & 0.98 as next targets. Alternative scenario: The downside penetration of 0.971 will call for 0.969 & 0.967. Comment: the pair is rebounding on its support as the RSI is turning up.  Previous |  Next   USD/JPY intraday: further advance. Pivot: 79.35. Our Preference: LONG positions above 79.35 with targets @ 79.7 & 79.85. Alternative scenario: The downside penetration of 79.35 will call for a slide towards 79.05 & 78.8. Comment: the pair stands above its support and remains on the upside.  Previous |  Next   AUD/USD intraday: key ST resistance at 1.046. Pivot: 1.046 Our preference: Short positions below 1.046 with targets @ 1.04 & 1.038 in extension. Alternative scenario: Above 1.046 look for further upside with 1.05 & 1.053 as targets. Comment: as long as the resistance at 1.046 is not surpassed, the risk of the break below 1.04 remains high.  Previous |  Next   GOLD (Spot) intraday: bullish bias above 1610 Pivot: 1610.00 Our Preference: LONG positions above 1610 with targets @ 1623 & 1630. Alternative scenario: The downside penetration of 1610 will call for a slide towards 1606 & 1600. Comment: supported by a rising trend line.  Previous |  Next   SILVER (Spot) intraday: further upside. Pivot: 28.00 Our Preference: LONG positions above 28 with 28.35 & 28.45 in sight. Alternative scenario: The downside breakout of 28 will open the way to 27.71 & 27.48. Comment: intraday support around 28  Previous |  Next   Crude Oil (Sep 12) intraday: further advance. Pivot: 95.65 Our Preference: LONG positions above 95.65 with 96.4 & 97 in sight. Alternative scenario: The downside penetration of 95.65 will call for 95 & 93.9. Comment: the RSI is supported by a rising trend line.  Previous Copyright 2012 - TRADING CENTRAL The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING Central current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable. This message is intended for recipient only and not for further distribution without the consent of TRADING Central. Although TRADING Central attempts to sweep e-mail and attachments for viruses, it does not guarantee that either are virus-free and accepts no liability for any damage sustained as a result of viruses. Access to Trading Central is provided for educational and informational purposes only. Gain Capital is not affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Trading Central, and Trading Central, its products and services, are not registered or regulated as a broker-dealer and accordingly are not subject to certain restrictions or review of their activities. No information accessed through Trading Central or any link contained therein has been approved or endorsed by Gain Capital and does not constitute a recommendation by Gain Capital to buy or sell a particular investment. Gain Capital is not responsible for any Trading Central content or any link contained therein. You are solely responsible for your investment decisions, and you should carefully evaluate Trading Central to determine whether they are right for you. Not all Trading Central products or services are appropriate for all investors. Gain Capital makes no investment recommendations and does not provide financial, tax or legal advice. Please consult your tax consultant prior to making any investment that may impact your tax situation.