DAILY FOREX NEWS BY UBP, 24 08 12

EXCHANGE RATES

Currency Support II Support I Level Resistance I Resistance II
EURUSD 1.2150 1.2420 1.2540 1.2650 1.2700
GBPUSD 1.5000 1.57 1.5860 1.5950 1.6000
EURGBP 0.7500 0.7600 0.7910 0.8070 0.8170
USDCHF 0.9400 0.9450 0.9580 0.9780 0.9820
USDJPY 75.00 78.00 78.60 80.00 80.70
USDCAD 0.9800 0.9850 0.9940 1.0050 1.0340
AUDUSD 1.0130 1.0400 1.0420 1.0600 1.0700
EURJPY 92.00 94.00 98.60 101.1 103.2
XAUUSD 1620 1640 1664 1670 1680
XAGUSD 28.00 29.00 30.32 31.30 32.00

EVENTS & MEETINGS

Greek Prime Samaras in Berlin for talks with Merkel. 10:45Gmt

VIEWS & TRADING IDEAS

EUR/USD

The pair is still well bid maintaining gains above 1.2500. This
short term rally has still some room on the upside and a test of the
1.2650/1.2700 area should be on the cards. Today Prime Minister
Samaras will meet with Merkel in Berlin, it will be worth following
comments from this meeting.

GBP/USD

Cable retraced some of its gains yesterday but still well bid for
the moment. A test of the 1.6000 is expected in the short run. Today?s
main event for the pair will be GDP for the second quarter, a negative
number of -0.5% is expected. Short term risk still stands for higher
level with a possible target of 1.6200.

USD/CHF

The greenback keeps sliding as expected. Next support stands at
0.9500 and then 0.9450. Those support area should be tested in the
very short term but will be difficult to break. We remain short term
bearish.

USD/JPY

Still trading in the range with no specific news. We would try to
initiate long positions in the 78.00/20 support playing a pull back to
the 79.50 area.

AUD/USD

The Aussie is stabilizing in the 1.0400-1.0600 level. We had a
still of comments recently in the markets about the Aud strength, RBA
Stevens expressed some concerns about the high level of the Aussie but
they have no intention to curb this strength for now. Range trading
prevails for now, however a break of the 1.0400 would be a bearish
signal.

USD/CAD

The pair is retracing some recent losses. A pull back to the
0.9970 and possible 1.0000 could be seen but would represent a selling
opportunity in our view.

Commodities

Gold rallied to its highest level since May on general (CTA, Hedge
and macro funds) buying after the Fomc meeting. The mid term target at
1675$ was achieved and some profit taking took place during the late
Nykers hours and overnight in Asian.The momentum remains positive but
a setback into 1655$ is technically likely and we will use this
opportunity to go long or to add to the existing long position.The
upside target will now be at 1705$ previous high since march 2012


******

Burada yer alan yatırım bilgi, yorum ve tavsiyeler yatırım
danışmanlığı kapsamında değildir. Yatırım danışmanlığı hizmeti,
aracı kurumlar, portföy yönetim şirketleri, mevduat kabul etmeyen
bankalar ile müşteri arasında imzalanacak yatırım danışmanlığı
sözleşmesi çerçevesinde sunulmaktadır. Burada yer alan yorum ve
tavsiyeler, yorum ve tavsiyede bulunanların kişisel görüşlerine
dayanmaktadır. Bu görüşler mali durumunuz ile risk getiri
tercihlerinize uygun olmayabilir. Bu nedenle, sadece burada yer
alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize
uygun sonuçlar doğurmayabilir.

*******

Foreks Haber Merkezi ( [email protected] )
http://www.foreks.com
http://twitter.com/#!/ForeksTurkey