Daily Technical Levels 21/08/2012 #1

Daily Technical Levels Tuesday, August 21, 2012

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

EUR/USD intraday: the upside prevails. Pivot: 1.2315. Our Preference: LONG positions above 1.2315 with 1.2385 & 1.2405 as next targets. Alternative scenario: The downside penetration of 1.2315 will call for 1.2285 & 1.225. Comment: the pair is on the upside and is challenging a declining trend line. Next   GBP/USD intraday: further advance. Pivot: 1.5695. Our Preference: LONG positions above 1.5695 with 1.5745 & 1.577 in sight. Alternative scenario: The downside penetration of 1.5695 will call for a slide towards 1.5675 & 1.5655. Comment: the pair is on the upside and should reach its previous high.  Previous |  Next   USD/CHF intraday: the upside prevails. Pivot: 0.97. Our Preference: LONG positions above 0.9705 with 0.975 & 0.9775 in sight. Alternative scenario: The downside penetration of 0.9705 will call for 0.969 & 0.967. Comment: the pair is pulling back on its support.  Previous |  Next   USD/JPY intraday: under pressure. Pivot: 79.55. Our Preference: SHORT positions below 79.55 with targets @ 79.2 & 79.05. Alternative scenario: The upside penetration of 79.55 will call for a rebound towards 79.7 & 79.85. Comment: the pair is under pressure and is approaching its support.  Previous |  Next   AUD/USD intraday: further advance. Pivot: 1.044 Our preference: Long positions above 1.044 with targets @ 1.05 & 1.053 in extension. Alternative scenario: Below 1.044 look for further downside with 1.042 & 1.04 as targets. Comment: the RSI is bullish and calls for further advance.  Previous |  Next   GOLD (Spot) intraday: bullish bias above 1616 Pivot: 1616.00 Our Preference: LONG positions above 1616 with targets @ 1626 & 1630. Alternative scenario: The downside penetration of 1616 will call for a slide towards 1610 & 1606. Comment: the price is on the upside and breaking above the upper boundary of a triangle.  Previous |  Next   SILVER (Spot) intraday: bullish bias above 28.25 Pivot: 28.25 Our Preference: LONG positions above 28.25 with targets @ 28.95 & 29.1. Alternative scenario: The downside penetration of 28.25 will call for 28 & 27.71. Comment: the immediate trend remains up and the momentum is strong.  Previous |  Next   Crude Oil (Sep 12) intraday: further upside. Pivot: 95.00 Our Preference: LONG positions above 95 with 96.5 & 97 as next targets. Alternative scenario: The downside penetration of 95 will call for a slide towards 93.9 & 93.15. Comment: the RSI is bullish and calls for further upside.  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.