Free Morning Forex Trading signals – Apr 26, 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: key ST resistance at 1.305

Pivot: 1.3050.

Our preference: SHORT positions below 1.305 with 1.2995 & 1.297 as next targets.

Alternative scenario: The upside penetration of 1.305 will call for 1.3085 & 1.313.

Comment: the pair is posting a rebound but stands below its new resistance, the RSI lacks upward momentum.

GBP/USD intraday: the upside prevails.

Pivot: 1.5410.

Our preference: LONG positions above 1.541 with 1.547 & 1.55 in sight.

Alternative scenario: The downside penetration of 1.541 will call for 1.537 & 1.533.

Comment: the pair remains on the upside and is challenging its previous high, the RSI is well directed.

USD/JPY intraday: under pressure.

Pivot: 99.25.

Our preference: SHORT positions below 99.25 with targets @ 98.5 & 97.95.

Alternative scenario: The upside penetration of 99.25 will call for 99.6 & 99.9.

Comment: the pair has struck against its resistance and remains under pressure.

EUR/JPY intraday: under pressure.

Pivot: 129.35

Our preference: Short positions below 129.35 with targets @ 128.5 & 127.85 in extension.

Alternative scenario: Above 129.35 look for further upside with 129.9 & 130.65 as targets.

Comment: the pair remains on the downside and is challenging its new support.

GBP/JPY intraday: the bias remains bullish.

Pivot: 152.5

Our preference: Long positions above 152.5 with targets @ 153.85 & 154.6 in extension.

Alternative scenario: Below 152.5 look for further downside with 152 & 151.4 as targets.

Comment: the pair is facing a pull back on its new support (former resistance), the RSI lacks downward momentum.

AUD/USD intraday: key ST resistance at 1.0335.

Pivot: 1.0335

Our preference: Short positions below 1.0335 with targets @ 1.0285 & 1.0265 in extension.

Alternative scenario: Above 1.0335 look for further upside with 1.0355 & 1.0375 as targets.

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

Cac 40 (May 13) intraday: target 3800

Pivot: 3750

Our preference: LONG positions above 3750 with 3800 & 3850 as next targets.

Alternative scenario: The downside penetration of 3750 will call for 3723 & 3697.

Comment : the RSI is mixed.

Dax intraday: target 7885

Pivot: 7740

Our preference: LONG positions above 7740 with 7885 & 7923 as next targets.

Alternative scenario: The downside penetration of 7740 will call for a slide towards 7705 & 7670.

Comment: the RSI advocates for further upside.