Daily Technical Levels 23/08/2012 #1

Daily Technical Levels Thursday, August 23, 2012

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

EUR/USD intraday: the upside prevails. Pivot: 1.2475. Our Preference: LONG positions above 1.2475 with targets @ 1.2555 & 1.2625. Alternative scenario: The downside breakout of 1.2475 will open the way to 1.2425 & 1.2385. Comment: the pair stands above its support and remains on the upside. Next   GBP/USD intraday: the upside prevails. Pivot: 1.5800. Our Preference: LONG positions @ 1.581 with targets @ 1.592 & 1.597. Alternative scenario: The downside breakout of 1.58 will open the way to 1.5765 & 1.574. Comment: the pair remains on the upside.  Previous |  Next   USD/CHF intraday: under pressure. Pivot: 0.97. Our Preference: SHORT positions below 0.9655 with targets @ 0.956 & 0.952. Alternative scenario: The upside penetration of 0.9655 will call for a rebound towards 0.9685 & 0.9725. Comment: the pair stands below its resistance and remains under pressure.  Previous |  Next   USD/JPY intraday: under pressure. Pivot: 78.90. Our Preference: SHORT positions below 78.9 with 78.25 & 78.1 as next targets. Alternative scenario: The upside breakout of 78.9 will open the way to 79.05 & 79.35. Comment: the pair is under pressure and is challenging its support.  Previous |  Next   AUD/USD intraday: further advance. Pivot: 1.047 Our preference: Long positions above 1.047 with targets @ 1.055 & 1.0585 in extension. Alternative scenario: Below 1.047 look for further downside with 1.0435 & 1.0405 as targets. Comment: the break above 1.047 is a positive signal that has opened a path to 1.055.  Previous |  Next   GOLD (Spot) intraday: further upside. Pivot: 1646.00 Our Preference: LONG positions above 1646 with 1671 & 1679 in sight. Alternative scenario: The downside penetration of 1646 will call for 1635 & 1626. Comment: the immediate trend remains up and the momentum is strong.  Previous |  Next   SILVER (Spot) intraday: further upside. Pivot: 29.60 Our Preference: LONG positions above 29.6 with 30.4 & 31 in sight. Alternative scenario: The downside breakout of 29.6 will open the way to 29.2 & 28.85. Comment: the immediate trend remains up and the momentum is strong.  Previous |  Next   Crude Oil (Oct 12) intraday: bullish bias above 96.8 Pivot: 96.80 Our Preference: LONG positions above 96.8 with 98.6 & 99.3 as next targets. Alternative scenario: The downside penetration of 96.8 will call for a slide towards 96.25 & 96. Comment: the immediate trend remains up and the momentum is strong.  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.