Free Afternoon Forex Trading signals – Apr 9, 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: rebound.

Pivot: 1.3005

Our preference: Long positions above 1.3005 with targets @ 1.307 & 1.3105 in extension.

Alternative scenario: Below 1.3005 look for further downside with 1.2965 & 1.2935 as targets.

Comment: the pair is rebounding on its new support and should reach its previous high as the RSI is reversing up.

GBP/USD intraday: key ST resistance at 1.536.

Pivot: 1.536

Our preference: Short positions below 1.536 with targets @ 1.5245 & 1.521 in extension.

Alternative scenario: Above 1.536 look for further upside with 1.541 & 1.545 as targets.

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

USD/CHF intraday: rebound.

Pivot: 0.9305

Our preference: Long positions above 0.9305 with targets @ 0.939 & 0.9435 in extension.

Alternative scenario: Below 0.9305 look for further downside with 0.927 & 0.923 as targets.

Comment: the pair stands above its support and remains on the upside.

USD/CAD intraday: the downside prevails.

Pivot: 1.0185

Our preference: Short positions below 1.0185 with targets @ 1.014 & 1.012 in extension.

Alternative scenario: Above 1.0185 look for further upside with 1.0215 & 1.0235 as targets.

Comment: the pair is breaking below its support as the RSI is badly directed.

Crude Oil (May 13) intraday: up turn.

Pivot: 92.45

Our preference: LONG positions above 92.45 with targets @ 94.2 & 94.8.

Alternative scenario: The downside penetration of 92.45 will call for 91.9 & 91.3.

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

GOLD (Spot) intraday: bullish bias above 1567

Pivot: 1567.00

Our preference: LONG positions @ 1570 with 1583 & 1589 as next targets.

Alternative scenario: The downside breakout of 1567 will open the way to 1562 & 1556.

Comment: gold prices are supported by a rising trend line.

Dow Jones (Jun 13) intraday: bullish bias above 14430

Pivot: 14430

Our preference: LONG positions above 14430 with targets @ 14610 & 14665.

Alternative scenario: The downside penetration of 14430 will call for a slide towards 14360 & 14310.

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

S&P 500 (Jun 13) intraday: bullish bias above 1544

Pivot: 1544

Our preference: LONG positions above 1544 with 1563 & 1568 in sight.

Alternative scenario: The downside penetration of 1544 will call for a slide towards 1533 & 1528.

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