Free Morning Forex Trading signals – Aug 12, 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: 1.3365.

Our preference: SHORT positions @ 1.3355 with 1.329 & 1.326 as next targets.

Alternative scenario: The upside penetration of 1.3365 will call for 1.339 & 1.3415.

Comment: the pair has broken below a rising trend line and remains under pressure.

GBP/USD intraday: caution.

Pivot: 1.5480.

Our preference: LONG positions above 1.548 with 1.5535 & 1.5595 in sight.

Alternative scenario: The downside breakout of 1.548 will open the way to 1.5435 & 1.5385.

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

USD/JPY intraday: key ST resistance at 96.9

Pivot: 96.90.

Our preference: SHORT positions below 96.9 with 95.7 & 95.15 as next targets.

Alternative scenario: The upside breakout of 96.9 will open the way to 97.45 & 97.8.

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

EUR/JPY intraday: key ST resistance at 128.85.

Pivot: 128.85

Our preference: Short positions below 128.85 with targets @ 127.9 & 127.45 in extension.

Alternative scenario: Above 128.85 look for further upside with 129.45 & 129.75 as targets.

Comment: the upward potential is likely to be limited by the resistance at 128.85.

GBP/JPY intraday: key ST resistance at 149.7.

Pivot: 149.7

Our preference: Short positions below 149.7 with targets @ 148.8 & 148.2 in extension.

Alternative scenario: Above 149.7 look for further upside with 150.2 & 150.65 as targets.

Comment: the upward potential is likely to be limited by the resistance at 149.7.

AUD/USD intraday: bullish bias above 0.9125.

Pivot: 0.9125

Our preference: Long positions above 0.9125 with targets @ 0.9255 & 0.929 in extension.

Alternative scenario: Below 0.9125 look for further downside with 0.909 & 0.904 as targets.

Comment: the 50-periods moving average (in dark blue) is supporting the pair.

Cac 40 (Aug 13) intraday: target 4105

Pivot: 4045

Our preference: LONG positions above 4045 with 4105 & 4120 as next targets.

Alternative scenario: The downside penetration of 4045 will call for a slide towards 4013 & 4000.

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

Dax (Sep 13) intraday: rebound.

Pivot: 8280

Our preference: LONG positions above 8280 with 8435 & 8460 as next targets.

Alternative scenario: The downside penetration of 8280 will call for a slide towards 8215 & 8140.

Comment: the RSI advocates for further advance.