Daily Technical Levels 22/08/2012 #1

Daily Technical Levels Wednesday, August 22, 2012

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

EUR/USD intraday: further advance. Pivot: 1.2425. Our Preference: LONG positions @ 1.2435 with 1.2505 & 1.254 as next targets. Alternative scenario: The downside penetration of 1.2425 will call for a slide towards 1.2385 & 1.2335. Comment: the pair stands above its new support and remains on the upside. Next   GBP/USD intraday: the upside prevails. Pivot: 1.5740. Our Preference: LONG positions @ 1.575 with 1.5805 & 1.5845 in sight. Alternative scenario: The downside penetration of 1.574 will call for 1.5715 & 1.5695. Comment: the pair is on the upside and is approaching its previous high.  Previous |  Next   USD/CHF intraday: under pressure. Pivot: 0.97. Our Preference: SHORT positions below 0.9685 with 0.96 & 0.9565 as next targets. Alternative scenario: The upside breakout of 0.9685 will open the way to 0.9725 & 0.975. Comment: the pair stands below its resistance and remains under pressure.  Previous |  Next   USD/JPY intraday: under pressure. Pivot: 79.50. Our Preference: SHORT positions below 79.5 with 79.05 & 78.8 as next targets. Alternative scenario: The upside penetration of 79.5 will call for 79.7 & 79.85. Comment: the pair is under pressure and is approaching its support.  Previous |  Next   AUD/USD intraday: target 1.0405. Pivot: 1.049 Our preference: Short positions below 1.049 with targets @ 1.0435 & 1.0405 in extension. Alternative scenario: Above 1.049 look for further upside with 1.052 & 1.054 as targets. Comment: a break below 1.0435 would trigger a drop towards 1.0405.  Previous |  Next   GOLD (Spot) intraday: the bias remains bullish. Pivot: 1633.00 Our Preference: LONG positions above 1633 with 1641 & 1657 in sight. Alternative scenario: The downside breakout of 1633 will open the way to 1626 & 1622. Comment: the next resistances are at 1641 and then at 1657.  Previous |  Next   SILVER (Spot) intraday: further upside. Pivot: 29.10 Our Preference: LONG positions above 29.1 with 29.5 & 29.85 as next targets. Alternative scenario: The downside breakout of 29.1 will open the way to 28.85 & 28.3. Comment: the RSI has just landed on its neutrality area at 50%.  Previous |  Next   Crude Oil (Oct 12) intraday: further advance. Pivot: 96.00 Our Preference: LONG positions above 96 with targets @ 97.8 & 98.15. Alternative scenario: The downside penetration of 96 will call for 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.