Daily Technical Levels 24/08/2012 #1

Daily Technical Levels Friday, August 24, 2012

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

EUR/USD intraday: the upside prevails. Pivot: 1.2485. Our Preference: LONG positions above 1.2485 with 1.2585 & 1.2625 as next targets. Alternative scenario: The downside penetration of 1.2485 will call for a slide towards 1.2425 & 1.2385. Comment: the pair stands above its support and remains on the upside. Next   GBP/USD intraday: the upside prevails. Pivot: 1.5820. Our Preference: LONG positions above 1.582 with 1.592 & 1.597 as next targets. Alternative scenario: The downside penetration of 1.582 will call for a slide towards 1.5765 & 1.574. Comment: the pair stands above its new support.  Previous |  Next   USD/CHF intraday: under pressure. Pivot: 0.96. Our Preference: SHORT positions below 0.961 with targets @ 0.952 & 0.95. Alternative scenario: The upside penetration of 0.961 will call for 0.9655 & 0.9685. Comment: the pair stands below its resistance and remains under pressure.  Previous |  Next   USD/JPY intraday: under pressure. Pivot: 78.70. Our Preference: SHORT positions below 78.7 with targets @ 78.25 & 78.1. Alternative scenario: The upside penetration of 78.7 will call for 78.9 & 79.05. Comment: the pair is rebounding but stands below its resistance.  Previous |  Next   AUD/USD intraday: under pressure. Pivot: 1.049 Our preference: Short positions below 1.049 with targets @ 1.0405 & 1.038 in extension. Alternative scenario: Above 1.049 look for further upside with 1.052 & 1.055 as targets. Comment: the RSI is mixed with a bearish bias.  Previous |  Next   GOLD (Spot) intraday: further upside. Pivot: 1656.00 Our Preference: LONG positions above 1656 with 1679 & 1685 in sight. Alternative scenario: The downside penetration of 1656 will call for 1646 & 1635. Comment: the immediate trend remains up and the momentum is strong.  Previous |  Next   SILVER (Spot) intraday: further advance. Pivot: 30.10 Our Preference: LONG positions above 30.1 with 30.8 & 31 as next targets. Alternative scenario: The downside penetration of 30.1 will call for 29.6 & 29.2. Comment: the RSI is bullish and calls for further upside.  Previous |  Next   Crude Oil (Oct 12) intraday: under pressure. Pivot: 97.30 Our Preference: SHORT positions below 97.3 with targets @ 95.3 & 94.95. Alternative scenario: The upside penetration of 97.3 will call for a rebound towards 98.25 & 98.6. Comment: the break below 97.3 is a negative signal that has opened a path to 95.3.  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.