Free Morning Forex Trading signals – July 22, 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 1.3175

Pivot: 1.3175.

Our preference: SHORT positions below 1.3175 with targets @ 1.3065 & 1.2995.

Alternative scenario: The upside breakout of 1.3175 will open the way to 1.3205 & 1.325.

Comment: as long as the resistance at 1.3175 is not surpassed, the risk of the break below 1.3065 remains high.

GBP/USD intraday: supported by a rising trend line.

Pivot: 1.5230.

Our preference: LONG positions above 1.523 with targets @ 1.53 & 1.5335.

Alternative scenario: The downside breakout of 1.523 will open the way to 1.515 & 1.5075.

Comment: the pair nad the RSI are supported by rising trend lines.

USD/JPY intraday: under pressure.

Pivot: 100.45.

Our preference: SHORT positions below 100.45 with targets @ 99.6 & 99.2.

Alternative scenario: The upside penetration of 100.45 will call for 100.85 & 101.25.

Comment: the pair has broken below an intraday rising trend line.

EUR/JPY intraday: limited upside.

Pivot: 131

Our preference: Long positions above 131 with targets @ 132.35 & 132.85 in extension.

Alternative scenario: Below 131 look for further downside with 130.6 & 130 as targets.

Comment: the RSI is mixed and calls for caution.

GBP/JPY intraday: the bias remains bullish.

Pivot: 151.8

Our preference: Long positions above 151.8 with targets @ 153.75 & 154.2 in extension.

Alternative scenario: Below 151.8 look for further downside with 151.1 & 150.4 as targets.

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

AUD/USD intraday: bullish bias above 0.912.

Pivot: 0.912

Our preference: Long positions above 0.912 with targets @ 0.925 & 0.9305 in extension.

Alternative scenario: Below 0.912 look for further downside with 0.903 & 0.9 as targets.

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

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

Pivot: 3855

Our preference: LONG positions @ 3912 with 3945 & 3965 in sight.

Alternative scenario: The downside breakout of 3855 will open the way to 3825 & 3752.

Comment : Prices are evolving within an ascending channel.

Dax (Sep 13) intraday: the upside prevails.

Pivot: 8215

Our preference: LONG positions above 8215 with targets @ 8410 & 8460.

Alternative scenario: The downside penetration of 8215 will call for a slide towards 8130 & 8080.

Comment: the RSI is bullish and calls for further upside.