Free Afternoon Forex Trading signals – July 02, 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 bias remains bullish.

Pivot: 1.301

Our preference: Long positions above 1.301 with targets @ 1.307 & 1.31 in extension.

Alternative scenario: Below 1.301 look for further downside with 1.2985 & 1.295 as targets.

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

GBP/USD intraday: under pressure.

Pivot: 1.5245

Our preference: Short positions below 1.5245 with targets @ 1.5135 & 1.5105 in extension.

Alternative scenario: Above 1.5245 look for further upside with 1.528 & 1.5345 as targets.

Comment: the pair is on the downside and is breaking below its support as the RSI is badly directed.

USD/CHF intraday: the bias remains bullish.

Pivot: 0.943

Our preference: Long positions above 0.943 with targets @ 0.9505 & 0.954 in extension.

Alternative scenario: Below 0.943 look for further downside with 0.94 & 0.938 as targets.

Comment: the pair has rebounded on its support and is approaching its previous high.

USD/CAD intraday: bullish bias above 1.0485.

Pivot: 1.0485

Our preference: Long positions above 1.0485 with targets @ 1.0555 & 1.058 in extension.

Alternative scenario: Below 1.0485 look for further downside with 1.0455 & 1.042 as targets.

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

Crude Oil (Aug 13) intraday: bullish bias above 96.05

Pivot: 96.05

Our preference: LONG positions @ 96.95 with 98.5 & 99.2 in sight.

Alternative scenario: The downside penetration of 96.05 will call for a slide towards 95.5 & 94.9.

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

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1233.00

Our preference: LONG positions above 1233 with 1271 & 1288 in sight.

Alternative scenario: The downside penetration of 1233 will call for a slide towards 1223.5 & 1213.

Comment: the break above 1233 is a positive signal that has opened a path to 1271.

Dow Jones (Sep 13) intraday: intraday support around 14850

Pivot: 14850

Our preference: LONG positions above 14850 with 15020 & 15090 in sight.

Alternative scenario: The downside penetration of 14850 will call for a slide towards 14730 & 14620.

Comment: the RSI is mixed with a bullish bias.

S&P 500 (Sep 13) intraday: intraday support around 1602

Pivot: 1602

Our preference: LONG positions above 1602 with 1620 & 1627 in sight.

Alternative scenario: The downside penetration of 1602 will call for 1593 & 1579.

Comment: the RSI is mixed with a bullish bias.