Daily Technical Levels 21/08/2012 #2

Daily Technical Levels Tuesday, August 21, 2012

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

EUR/USD intraday: further advance. Pivot: 1.236 Our preference: Long positions above 1.236 with targets @ 1.244 & 1.247 in extension. Alternative scenario: Below 1.236 look for further downside with 1.2335 & 1.2315 as targets. Comment: the pair has broken above its declining trend line and should post further advance. Next   GBP/USD intraday: further upside. Pivot: 1.572 Our preference: Long positions above 1.572 with targets @ 1.578 & 1.5805 in extension. Alternative scenario: Below 1.572 look for further downside with 1.5695 & 1.5675 as targets. Comment: the pair stands above its new support and remains on the upside.  Previous |  Next   USD/CHF intraday: under pressure. Pivot: 0.9705 Our preference: Short positions below 0.9705 with targets @ 0.965 & 0.963 in extension. Alternative scenario: Above 0.9705 look for further upside with 0.9725 & 0.975 as targets. Comment: the pair has broken below its rising trend line and should face further weakness.  Previous |  Next   USD/JPY intraday: under pressure. Pivot: 79.55 Our preference: Short positions below 79.55 with targets @ 79.2 & 79.05 in extension. Alternative scenario: Above 79.55 look for further upside with 79.7 & 79.85 as targets. Comment: the pair is rebounding but stands below its resistance.  Previous |  Next   AUD/USD intraday: further advance. Pivot: 1.047 Our preference: Long positions above 1.047 with targets @ 1.053 & 1.0555 in extension. Alternative scenario: Below 1.047 look for further downside with 1.0435 & 1.0405 as targets. Comment: the RSI is bullish and calls for further advance.  Previous |  Next   GOLD (Spot) intraday: further advance. Pivot: 1618.00 Our Preference: LONG positions above 1618 with targets @ 1630 & 1635. Alternative scenario: The downside breakout of 1618 will open the way to 1610 & 1606. Comment: the price is on the upside and breaking above the upper boundary of a triangle.  Previous |  Next   SILVER (Spot) intraday: the bias remains bullish. Pivot: 28.60 Our Preference: LONG positions above 28.6 with targets @ 29.1 & 29.35. Alternative scenario: The downside penetration of 28.6 will call for a slide towards 28.3 & 28. Comment: the RSI is mixed and calls for caution.  Previous |  Next   Crude Oil (Oct 12) intraday: the bias remains bullish. Pivot: 95.90 Our Preference: LONG positions above 95.9 with 97.65 & 98.15 in sight. Alternative scenario: The downside penetration of 95.9 will call for a slide towards 95.3 & 94.9. Comment: the contract remains within a bullish channel.  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.