Daily Technical Levels 28/08/2012 #2

Daily Technical Levels Tuesday, August 28, 2012

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

EUR/USD intraday: the upside prevails. Pivot: 1.2505 Our preference: Long positions above 1.2505 with targets @ 1.2555 & 1.257 in extension. Alternative scenario: Below 1.2505 look for further downside with 1.249 & 1.2465 as targets. Comment: the pair has broken above a declining trend line and should post further advance. Next   GBP/USD intraday: caution. Pivot: 1.58 Our preference: Short positions below 1.58 with targets @ 1.575 & 1.5715 in extension. Alternative scenario: Above 1.58 look for further upside with 1.583 & 1.585 as targets. Comment: the pair is rebounding and is challenging its resistance.  Previous |  Next   USD/CHF intraday: under pressure. Pivot: 0.96 Our preference: Short positions below 0.96 with targets @ 0.955 & 0.953 in extension. Alternative scenario: Above 0.96 look for further upside with 0.963 & 0.9655 as targets. Comment: the pair has broken below a rising trend line and remains under pressure.  Previous |  Next   USD/JPY intraday: rebound. Pivot: 78.4 Our preference: Long positions above 78.4 with targets @ 78.7 & 78.9 in extension. Alternative scenario: Below 78.4 look for further downside with 78.25 & 78.1 as targets. Comment: the pair is rebounding and is approaching its resistance.  Previous |  Next   AUD/USD intraday: rebound. Pivot: 1.034 Our preference: Long positions above 1.034 with targets @ 1.04 & 1.0425 in extension. Alternative scenario: Below 1.034 look for further downside with 1.032 & 1.03 as targets. Comment: the RSI is well directed.  Previous |  Next   GOLD (Spot) intraday: rebound expected. Pivot: 1657.00 Our Preference: LONG positions above 1657 with 1666 & 1673 in sight. Alternative scenario: The downside penetration of 1657 will call for a slide towards 1652 & 1646. Comment: intraday support around 1657  Previous |  Next   SILVER (Spot) intraday: up turn. Pivot: 30.51 Our Preference: LONG positions above 30.51 with targets @ 31 & 31.2. Alternative scenario: The downside breakout of 30.51 will open the way to 30.15 & 29.9. Comment: the RSI calls for a bounce.  Previous |  Next   Crude Oil (Oct 12) intraday: rebound expected. Pivot: 95.15 Our Preference: LONG positions above 95.15 with targets @ 96.85 & 97.7. Alternative scenario: The downside penetration of 95.15 will call for a slide towards 94.4 & 93. Comment: the 20 MA is crossing above the 50 MA.  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.