Free Afternoon Forex Trading signals – Aug 15, 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: 1.327

Our preference: Long positions above 1.327 with targets @ 1.3315 & 1.3345 in extension.

Alternative scenario: Below 1.327 look for further downside with 1.325 & 1.3225 as targets.

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

GBP/USD intraday: the bias remains bullish.

Pivot: 1.551

Our preference: Long positions above 1.551 with targets @ 1.561 & 1.564 in extension.

Alternative scenario: Below 1.551 look for further downside with 1.548 & 1.5455 as targets.

Comment: the pair has broken above its resistance and should post further advance as the RSI is well directed.

USD/CHF intraday: under pressure.

Pivot: 0.936

Our preference: Short positions below 0.936 with targets @ 0.93 & 0.928 in extension.

Alternative scenario: Above 0.936 look for further upside with 0.9385 & 0.9405 as targets.

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

USD/CAD intraday: under pressure.

Pivot: 1.037

Our preference: Short positions below 1.037 with targets @ 1.027 & 1.0245 in extension.

Alternative scenario: Above 1.037 look for further upside with 1.04 & 1.044 as targets.

Comment: as long as 1.037 is resistance, likely decline to 1.027.

Crude Oil (Sep 13) intraday: the bias remains bullish.

Pivot: 106.40

Our preference: LONG positions above 106.4 with targets @ 108.15 & 108.75.

Alternative scenario: The downside penetration of 106.4 will call for 105.6 & 105.

Comment: the RSI is supported by a bullish trend line.

GOLD (Spot) intraday: further upside.

Pivot: 1330.00

Our preference: LONG positions above 1330 with targets @ 1346.5 & 1355.

Alternative scenario: The downside penetration of 1330 will call for a slide towards 1315 & 1305.

Comment: the break above 1330 is a positive signal that has opened a path to 1346.5.

Dow Jones (Sep 13) intraday: under pressure.

Pivot: 15300

Our preference: SHORT positions below 15300 with targets @ 15190 & 15110.

Alternative scenario: The upside breakout of 15300 will open the way to 15360 & 15470.

Comment: the RSI is capped by a bearish trend line.

S&P 500 (Sep 13) intraday: under pressure.

Pivot: 1682

Our preference: SHORT positions below 1682 with 1670 & 1666 as next targets.

Alternative scenario: The upside penetration of 1682 will call for a rebound towards 1686 & 1694.

Comment: the RSI is capped by a bearish trend line.