Free Afternoon Forex Trading signals – Feb 12, 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: bullish bias above 1.3375.

Pivot: 1.3375

Our preference: Long positions above 1.3375 with targets @ 1.349 & 1.3525 in extension.

Alternative scenario: Below 1.3375 look for further downside with 1.335 & 1.328 as targets.

Comment: both the pair and the RSI have broken above a bearish trend line turning the outlook bullish.

GBP/USD intraday: the downside prevails.

Pivot: 1.564

Our preference: Short positions below 1.564 with targets @ 1.557 & 1.5525 in extension.

Alternative scenario: Above 1.564 look for further upside with 1.568 & 1.5705 as targets.

Comment: as long as the resistance at 1.564 is not surpassed, the risk of the break below 1.557 remains high.

USD/CHF intraday: further upside.

Pivot: 0.915

Our preference: Long positions above 0.915 with targets @ 0.922 & 0.925 in extension.

Alternative scenario: Below 0.915 look for further downside with 0.911 & 0.906 as targets.

Comment: the next resistances are at 0.922 and then at 0.925.

USD/CAD intraday: further advance.

Pivot: 1.0035

Our preference: Long positions above 1.0035 with targets @ 1.01 & 1.013 in extension.

Alternative scenario: Below 1.0035 look for further downside with 1.0005 & 0.9985 as targets.

Comment: technically, the RSI is above its neutrality area at 50.

Crude Oil (Mar 13) intraday: further advance.

Pivot: 95.85

Our preference: LONG positions above 95.85 with 98.2 & 99.3 in sight.

Alternative scenario: The downside penetration of 95.85 will call for 95 & 94.3.

Comment: the RSI is supported by a rising trend line.

GOLD (Spot) intraday: the downside prevails.

Pivot: 1656.00

Our preference: SHORT positions below 1656 with 1636 & 1625 as next targets.

Alternative scenario: The upside breakout of 1656 will open the way to 1662 & 1673.

Comment: the price remains within a bearish channel.

Dow Jones (Mar 13) intraday: the bias remains bullish.

Pivot: 13880

Our preference: LONG positions above 13880 with targets @ 14000 & 14035.

Alternative scenario: The downside penetration of 13880 will call for a slide towards 13800 & 13740.

Comment: the RSI lacks downward momentum.

S&P 500 (Mar 13) intraday: caution.

Pivot: 1508

Our preference: LONG positions above 1508 with 1518 & 1522 in sight.

Alternative scenario: The downside penetration of 1508 will call for 1504 & 1496.

Comment: the RSI is mixed and calls for caution.