Free Afternoon Forex Trading signals – Apr 23, 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: under pressure.

Pivot: 1.305

Our preference: Short positions below 1.305 with targets @ 1.2965 & 1.2945 in extension.

Alternative scenario: Above 1.305 look for further upside with 1.3085 & 1.3115 as targets.

Comment: the pair stands below its new resistance and remains on the downside.

GBP/USD intraday: under pressure.

Pivot: 1.5275

Our preference: Short positions below 1.5275 with targets @ 1.5195 & 1.517 in extension.

Alternative scenario: Above 1.5275 look for further upside with 1.5315 & 1.534 as targets.

Comment: the pair is posting a rebound but stands below its resistance, the RSI lacks upward momentum.

USD/CHF intraday: the bias remains bullish.

Pivot: 0.934

Our preference: Long positions above 0.934 with targets @ 0.942 & 0.944 in extension.

Alternative scenario: Below 0.934 look for further downside with 0.9315 & 0.9275 as targets.

Comment: the pair stands above its new support and remains on the upside as the RSI is well directed.

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

Pivot: 1.025

Our preference: Long positions above 1.025 with targets @ 1.029 & 1.0315 in extension.

Alternative scenario: Below 1.025 look for further downside with 1.023 & 1.02 as targets.

Comment: The pair is supported by a rising trend line. The upside breakout of 1.029 is expected to trigger a bullish acceleration.

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

Pivot: 87.80

Our preference: LONG positions above 87.8 with 89.4 & 90.6 as next targets.

Alternative scenario: The downside breakout of 87.8 will open the way to 86.6 & 85.9.

Comment: intraday support around 87.8

GOLD (Spot) intraday: further advance.

Pivot: 1391.00

Our preference: LONG positions above 1391 with 1439 & 1473 as next targets.

Alternative scenario: The downside penetration of 1391 will call for 1363 & 1335.

Comment: the RSI has just broken above a bearish trend line.

Dow Jones (Jun 13) intraday: caution.

Pivot: 14615

Our preference: SHORT positions below 14615 with 14390 & 14340 in sight.

Alternative scenario: The upside breakout of 14615 will open the way to 14700 & 14725.

Comment: intraday technical indicators are mixed and call for caution.

S&P 500 (Jun 13) intraday: caution.

Pivot: 1562

Our preference: SHORT positions below 1562 with 1542 & 1530 as next targets.

Alternative scenario: The upside penetration of 1562 will call for 1570 & 1579.

Comment: the RSI lacks momentum.