Free Morning Forex Trading signals – July 01 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 1.3055

Pivot: 1.3055.

Our preference: SHORT positions below 1.3055 with 1.298 & 1.295 in sight.

Alternative scenario: The upside penetration of 1.3055 will call for 1.31 & 1.315.

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

GBP/USD intraday: key ST resistance at 1.528

Pivot: 1.5280.

Our preference: SHORT positions @ 1.527 with 1.5155 & 1.5135 in sight.

Alternative scenario: The upside penetration of 1.528 will call for 1.5345 & 1.54.

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

USD/JPY intraday: further advance.

Pivot: 98.55.

Our preference: LONG positions @ 98.7 with 99.7 & 100 in sight.

Alternative scenario: The downside penetration of 98.55 will call for 98.05 & 97.6.

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

EUR/JPY intraday: the upside prevails.

Pivot: 128.45

Our preference: Long @ 128.6 with targets @ 129.7 & 130.1 in extension.

Alternative scenario: Below 128.45 look for further downside with 127.95 & 127.3 as targets.

Comment: the pair remains on the upside and is approaching its next resistance, the RSI is well directed.

GBP/JPY intraday: the upside prevails.

Pivot: 150.55

Our preference: Long positions above 150.55 with targets @ 151.45 & 151.9 in extension.

Alternative scenario: Below 150.55 look for further downside with 150 & 149.5 as targets.

Comment: the pair has rebounded on its support and remains on the upside.

AUD/USD intraday: key ST resistance at 0.921.

Pivot: 0.921

Our preference: Short positions below 0.921 with targets @ 0.914 & 0.91 in extension.

Alternative scenario: Above 0.921 look for further upside with 0.9255 & 0.929 as targets.

Comment: as long as 0.921 is resistance, look for choppy price action with a bearish bias.

Cac 40 (Jul 13) intraday: the upside prevails.

Pivot: 3700

Our preference: LONG positions above 3700 with targets @ 3780 & 3800.

Alternative scenario: The downside penetration of 3700 will call for 3635 & 3570.

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

Dax (Sep 13) intraday: bullish bias above 7905

Pivot: 7905

Our preference: LONG positions above 7905 with 8042 & 8080 as next targets.

Alternative scenario: The downside penetration of 7905 will call for a slide towards 7845 & 7660.

Comment: intraday technical indicators are mixed and call for caution.