Free Afternoon Forex Trading signals – Apr 17, 2013

Published: 17 April 2013
Categories: Free Forex trading Signals
EUR/USD GBP/USD USD/CHF USD/CAD CRUDE OIL GOLD DOWJONES S&P 500
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: under pressure.

Pivot: 1.3165

Our preference: Short positions below 1.3165 with targets @ 1.3105 & 1.308 in extension.

Alternative scenario: Above 1.3165 look for further upside with 1.32 & 1.323 as targets.

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

GBP/USD intraday: under pressure.

Pivot: 1.53

Our preference: Short positions below 1.53 with targets @ 1.521 & 1.518 in extension.

Alternative scenario: Above 1.53 look for further upside with 1.5335 & 1.536 as targets.

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

USD/CHF intraday: under pressure.

Pivot: 0.927

Our preference: Short positions below 0.927 with targets @ 0.9205 & 0.9175 in extension.

Alternative scenario: Above 0.927 look for further upside with 0.9305 & 0.9335 as targets.

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

USD/CAD intraday: key ST resistance at 1.026.

Pivot: 1.026

Our preference: Short positions below 1.026 with targets @ 1.02 & 1.0185 in extension.

Alternative scenario: Above 1.026 look for further upside with 1.028 & 1.0295 as targets.

Comment: the pair is rebounding and is challenging its resistance.

Crude Oil (May 13) intraday: the downside prevails.

Pivot: 89.00

Our preference: SHORT positions below 89 with 86 & 84.2 as next targets.

Alternative scenario: The upside penetration of 89 will call for a rebound towards 90.4 & 91.45.

Comment: as long as 89 is resistance, look for choppy price action with a bearish bias.

GOLD (Spot) intraday: rebound expected.

Pivot: 1363.00

Our preference: LONG positions above 1363 with 1413 & 1444 in sight.

Alternative scenario: The downside penetration of 1363 will call for 1322 & 1295.

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

Dow Jones (Jun 13) intraday: key ST resistance at 14720

Pivot: 14720

Our preference: SHORT positions below 14720 with targets @ 14470 & 14430.

Alternative scenario: The upside penetration of 14720 will call for a rebound towards 14825 & 14885.

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

S&P 500 (Jun 13) intraday: ST consolidation in place.

Pivot: 1571

Our preference: SHORT positions below 1571 with 1539 & 1533 in sight.

Alternative scenario: The upside penetration of 1571 will call for 1585 & 1593.

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

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