Free Morning Forex Trading signals – June 06, 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: the upside prevails.

Pivot: 1.3050.

Our preference: LONG positions above 1.305 with 1.313 & 1.3155 in sight.

Alternative scenario: The downside penetration of 1.305 will call for 1.303 & 1.299.

Comment: the pair remains on the upside and is challenging its resistance, the RSI stands above its neutrality area.

GBP/USD intraday: the upside prevails.

Pivot: 1.5330.

Our preference: LONG positions above 1.533 with 1.544 & 1.5475 in sight.

Alternative scenario: The downside penetration of 1.533 will call for a slide towards 1.527 & 1.523.

Comment: the pair stands above its support and remains on the upside.

USD/JPY intraday: under pressure.

Pivot: 99.75.

Our preference: SHORT positions below 99.75 with targets @ 98.85 & 98.45.

Alternative scenario: The upside penetration of 99.75 will call for a rebound towards 100 & 100.4.

Comment: the pair is rebounding but stands below its resistance.

EUR/JPY intraday: under pressure.

Pivot: 130.7

Our preference: Short @ 130.6 with targets @ 129.55 & 129.2 in extension.

Alternative scenario: Above 130.7 look for further upside with 131.35 & 131.75 as targets.

Comment: the pair is posting a rebound but stands below its resistance.

GBP/JPY intraday: rebound.

Pivot: 152.2

Our preference: Long positions above 152.2 with targets @ 153.45 & 153.8 in extension.

Alternative scenario: Below 152.2 look for further downside with 151.9 & 151.6 as targets.

Comment: the pair is rebounding and is breaking above its resistance.

AUD/USD intraday: capped by a negative trend line.

Pivot: 0.9545

Our preference: Short @ 0.952 with targets @ 0.944 & 0.94 in extension.

Alternative scenario: Above 0.9545 look for further upside with 0.961 & 0.9655 as targets.

Comment: the pair and the RSI are capped by declining trend lines.

Cac 40 (Jun 13) intraday: under pressure.

Pivot: 3900

Our preference: SHORT positions below 3900 with 3805 & 3785 in sight.

Alternative scenario: The upside breakout of 3900 will open the way to 3937 & 3973.

Comment : the RSI is bearish and calls for further downside.

Dax (Jun 13) intraday: under pressure.

Pivot: 8260

Our preference: SHORT positions below 8260 with 8129 & 8109 in sight.

Alternative scenario: The upside penetration of 8260 will call for 8345 & 8385.

Comment: the RSI is badly directed.