Free Morning Forex Trading signals – June 18, 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: supported by a rising trend line.

Pivot: 1.3325.

Our preference: LONG positions @ 1.3345 with 1.339 & 1.343 in sight.

Alternative scenario: The downside penetration of 1.3325 will call for 1.33 & 1.3275.

Comment: the pair has vaildated a triangle and is facing a pull back on its new support ahead of further advance.

GBP/USD intraday: caution.

Pivot: 1.5685.

Our preference: LONG positions @ 1.569 with 1.575 & 1.5795 in sight.

Alternative scenario: The downside penetration of 1.5685 will call for 1.5645 & 1.561.

Comment: the pair is facing a pull back and is challenging its support.

USD/JPY intraday: under pressure.

Pivot: 95.30.

Our preference: SHORT positions @ 95.2 with 94.25 & 93.75 in sight.

Alternative scenario: The upside penetration of 95.3 will call for 95.85 & 96.5.

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

EUR/JPY intraday: under pressure.

Pivot: 127

Our preference: Short @ 126.8 with targets @ 126.05 & 125.7 in extension.

Alternative scenario: Above 127 look for further upside with 127.3 & 128 as targets.

Comment: the pair stands below its resistance and remains under pressure.

GBP/JPY intraday: key ST resistance at 149.4.

Pivot: 149.4

Our preference: Short positions below 149.4 with targets @ 148.2 & 147.05 in extension.

Alternative scenario: Above 149.4 look for further upside with 150.65 & 151.95 as targets.

Comment: the pair stands below its resistance and remains capped by a declining trend line, the RSI is reversing down.

AUD/USD intraday: the downside prevails.

Pivot: 0.96

Our preference: Short positions below 0.96 with targets @ 0.9435 & 0.94 in extension.

Alternative scenario: Above 0.96 look for further upside with 0.9665 & 0.9725 as targets.

Comment: the pair has broken below the lower boundary of a bullish channel.

Cac 40 (Jun 13) intraday: rebound expected.

Pivot: 3775

Our preference: LONG positions above 3775 with 3881 & 3932 in sight.

Alternative scenario: The downside penetration of 3775 will call for a slide towards 3730 & 3680.

Comment : An inverted head-and-shoulders is validated

Dax (Jun 13) intraday: continuation of the rebound.

Pivot: 8075

Our preference: LONG positions above 8075 with targets @ 8350 & 8389.

Alternative scenario: The downside penetration of 8075 will call for 7970 & 7900.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.