Free Morning Forex Trading signals – Apr 24, 2013

Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out.

EUR/USD intraday: under pressure.

Pivot: 1.3025.

Our preference: SHORT positions below 1.3025 with 1.2965 & 1.2945 in sight.

Alternative scenario: The upside penetration of 1.3025 will call for a rebound towards 1.305 & 1.3085.

Comment: the pair stands below its new resistance and remains on the downside, the RSI stands below its neutrality area.

GBP/USD intraday: intraday support around 1.522

Pivot: 1.5220.

Our preference: LONG positions above 1.522 with 1.5285 & 1.5315 in sight.

Alternative scenario: The downside penetration of 1.522 will call for a slide towards 1.5195 & 1.517.

Comment: the pair is facing a pull back on its new support, the RSI stands around its neutrality area.

USD/JPY intraday: further advance.

Pivot: 98.90.

Our preference: LONG positions above 98.9 with 99.9 & 100.15 in sight.

Alternative scenario: The downside penetration of 98.9 will call for 98.5 & 97.95.

Comment: the pair has validated a bullish flag and should reach its previous high.

EUR/JPY intraday: bullish bias above 128.5.

Pivot: 128.5

Our preference: Long @ 128.65 with targets @ 129.9 & 130.65 in extension.

Alternative scenario: Below 128.5 look for further downside with 127.85 & 127.5 as targets.

Comment: the pair should face a pull back on its support ahead of further advance, the RSI stands around its neutrality area.

GBP/JPY intraday: the upside prevails.

Pivot: 150.6

Our preference: Long positions above 150.6 with targets @ 152.15 & 152.55 in extension.

Alternative scenario: Below 150.6 look for further downside with 149.6 & 148.6 as targets.

Comment: the pair should face a pull back on its support ahead of further advance, the RSI stands around its neutrality area.

AUD/USD intraday: the downside prevails.

Pivot: 1.0275

Our preference: Short @ 1.0255 with targets @ 1.022 & 1.02 in extension.

Alternative scenario: Above 1.0275 look for further upside with 1.031 & 1.033 as targets.

Comment: the pair struck against its resistance but remains on the downside.

Cac 40 (May 13) intraday: target 3771

Pivot: 3615

Our preference: LONG positions above 3615 with 3745 & 3771 in sight.

Alternative scenario: The downside breakout of 3615 will open the way to 3583 & 3555.

Comment : the RSI is bullish and calls for further upside.

Dax (Jun 13) intraday: target 7795

Pivot: 7540

Our preference: LONG positions above 7540 with targets @ 7740 & 7795.

Alternative scenario: The downside penetration of 7540 will call for 7450 & 7345.

Comment: the RSI is bullish and calls for further upside.