Free Afternoon Forex Trading signals – Aug 13, 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: 1.333

Our preference: Short positions below 1.333 with targets @ 1.326 & 1.3225 in extension.

Alternative scenario: Above 1.333 look for further upside with 1.3365 & 1.339 as targets.

Comment: the pair remains under pressure and is challenging its support.

GBP/USD intraday: key ST resistance at 1.552.

Pivot: 1.552

Our preference: Short positions below 1.552 with targets @ 1.5435 & 1.5385 in extension.

Alternative scenario: Above 1.552 look for further upside with 1.5555 & 1.5595 as targets.

Comment: the pair stands below its new resistance and remains under pressure.

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

Pivot: 0.925

Our preference: Long positions above 0.925 with targets @ 0.9315 & 0.9335 in extension.

Alternative scenario: Below 0.925 look for further downside with 0.923 & 0.9205 as targets.

Comment: the pair is supported by a rising trend line and should post further advance.

USD/CAD intraday: key ST resistance at 1.0355.

Pivot: 1.0355

Our preference: Short positions below 1.0355 with targets @ 1.027 & 1.0245 in extension.

Alternative scenario: Above 1.0355 look for further upside with 1.04 & 1.044 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.0355.

Crude Oil (Sep 13) intraday: further upside.

Pivot: 105.00

Our preference: LONG positions above 105 with 107.75 & 108.75 in sight.

Alternative scenario: The downside penetration of 105 will call for a slide towards 103.6 & 102.25.

Comment: the RSI is bullish and calls for further upside.

GOLD (Spot) intraday: the downside prevails.

Pivot: 1349.00

Our preference: SHORT positions below 1349 with 1317 & 1305 as next targets.

Alternative scenario: The upside penetration of 1349 will call for 1359 & 1377.

Comment: the RSI is bearish and calls for further decline.

Dow Jones (Sep 13) intraday: bullish bias above 15290

Pivot: 15290

Our preference: LONG positions above 15290 with targets @ 15515 & 15565.

Alternative scenario: The downside breakout of 15290 will open the way to 15190 & 15110.

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

S&P 500 (Sep 13) intraday: bullish bias above 1675

Pivot: 1675

Our preference: LONG positions above 1675 with 1697 & 1701 as next targets.

Alternative scenario: The downside penetration of 1675 will call for a slide towards 1666 & 1661.

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