Free Afternoon Forex Trading signals – Aug 08, 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 bias remains bullish.

Pivot: 1.329

Our preference: Long positions above 1.329 with targets @ 1.338 & 1.3415 in extension.

Alternative scenario: Below 1.329 look for further downside with 1.3265 & 1.323 as targets.

Comment: the pair remains on the upside and is challenging its previous high.

GBP/USD intraday: the upside prevails.

Pivot: 1.5435

Our preference: Long positions above 1.5435 with targets @ 1.5525 & 1.5595 in extension.

Alternative scenario: Below 1.5435 look for further downside with 1.5385 & 1.5305 as targets.

Comment: the pair stands above its support and remains on the upside, the RSI stands above its neutrality area.

PREVIOUS NEXT

USD/CHF intraday: under pressure.

Pivot: 0.926

Our preference: Short positions below 0.926 with targets @ 0.918 & 0.913 in extension.

Alternative scenario: Above 0.926 look for further upside with 0.93 & 0.933 as targets.

Comment: the pair remains on the downside and is challenging its previous low.

PREVIOUS NEXT

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

Pivot: 1.0375

Our preference: Long positions above 1.0375 with targets @ 1.044 & 1.0495 in extension.

Alternative scenario: Below 1.0375 look for further downside with 1.0345 & 1.028 as targets.

Comment: a key rising trend line maintains upward pressure.

PREVIOUS NEXT

Crude Oil (Sep 13) intraday: key ST resistance at 105.9

Pivot: 105.90

Our preference: SHORT positions below 105.9 with 103.75 & 102.7 in sight.

Alternative scenario: The upside penetration of 105.9 will call for a rebound towards 107.7 & 108.8.

Comment: crude oil prices are trading in a descending channel.

PREVIOUS NEXT

GOLD (Spot) intraday: bullish bias above 1282

Pivot: 1282.00

Our preference: LONG positions above 1282 with targets @ 1297 & 1307.

Alternative scenario: The downside penetration of 1282 will call for 1273 & 1266.

Comment: the price has broken above the upper end of a declining channel. The 50 moving average is turning upward and is a possible area of support.

PREVIOUS NEXT

Dow Jones (Sep 13) intraday: up turn.

Pivot: 15435

Our preference: LONG positions @ 15473 with targets @ 15565 & 15600.

Alternative scenario: The downside penetration of 15435 will call for a slide towards 15370 & 15340.

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

PREVIOUS NEXT

S&P 500 (Sep 13) intraday: turning up.

Pivot: 1688

Our preference: LONG positions @ 1691 with 1700 & 1705 in sight.

Alternative scenario: The downside penetration of 1688 will call for a slide towards 1681 & 1677.

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