Free Morning Forex Trading signals – Mar 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: 1.2980.

Our preference: LONG positions above 1.298 with 1.3035 & 1.3075 as next targets.

Alternative scenario: The downside breakout of 1.298 will open the way to 1.295 & 1.291.

Comment: the pair is on the upside and is challenging its resistance, the RSI stands above its neutrality area.

GBP/USD intraday: further advance.

Pivot: 1.5045.

Our preference: LONG positions above 1.5045 with 1.512 & 1.5155 in sight.

Alternative scenario: The downside penetration of 1.5045 will call for 1.5005 & 1.498.

Comment: the pair remains on the upside and is approaching its previous high, the RSI is turning up.

USD/JPY intraday: under pressure.

Pivot: 96.25.

Our preference: SHORT positions below 96.25 with 95.65 & 95.45 as next targets.

Alternative scenario: The upside penetration of 96.25 will call for a rebound towards 96.7 & 97.

Comment: the pair is challenging its resistance, the RSI stands around its neutrality area.

EUR/JPY intraday: the upside prevails.

Pivot: 124.6

Our preference: Long @ 124.7 with targets @ 125.35 & 125.75 in extension.

Alternative scenario: Below 124.6 look for further downside with 124.1 & 123.75 as targets.

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

GBP/JPY intraday: the bias remains bullish.

Pivot: 144.25

Our preference: Long @ 144.45 with targets @ 145.25 & 145.75 in extension.

Alternative scenario: Below 144.25 look for further downside with 143.55 & 143 as targets.

Comment: the pair stands above its new support and should post further advance as the RSI is turning up.

AUD/USD intraday: the bias remains bullish.

Pivot: 1.0335

Our preference: Long positions above 1.0335 with targets @ 1.0415 & 1.044 in extension.

Alternative scenario: Below 1.0335 look for further downside with 1.0305 & 1.0275 as targets.

Comment: the pair stands above its support and should post further advance towards its previous high.

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

Pivot: 3815

Our preference: LONG positions above 3815 with 3910 & 3940 in sight.

Alternative scenario: The downside penetration of 3815 will call for a slide towards 3770 & 3741.

Comment : Prices are still supported by an ascending trend line

Dax (Mar 13) intraday: the upside prevails.

Pivot: 7910

Our preference: LONG positions above 7910 with 8090 & 8130 in sight.

Alternative scenario: The downside penetration of 7910 will call for 7775 & 7626.

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