Free Afternoon Forex Trading signals – Feb 18, 2013

Published: 18 February 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: the downside prevails.

Pivot: 1.338

Our preference: Short positions below 1.338 with targets @ 1.3305 & 1.326 in extension.

Alternative scenario: Above 1.338 look for further upside with 1.3415 & 1.344 as targets.

Comment: as long as the resistance at 1.338 is not surpassed, the risk of the break below 1.3305 remains high.

GBP/USD intraday: capped by a negative trend line.

Pivot: 1.551

Our preference: Short positions below 1.551 with targets @ 1.541 & 1.534 in extension.

Alternative scenario: Above 1.551 look for further upside with 1.555 & 1.56 as targets.

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

USD/CHF intraday: intraday support around 0.92.

Pivot: 0.92

Our preference: Long positions above 0.92 with targets @ 0.9255 & 0.929 in extension.

Alternative scenario: Below 0.92 look for further downside with 0.9175 & 0.915 as targets.

Comment: the RSI lacks downward momentum.

USD/CAD intraday: bullish bias above 1.0025.

Pivot: 1.0025

Our preference: Long positions above 1.0025 with targets @ 1.01 & 1.0125 in extension.

Alternative scenario: Below 1.0025 look for further downside with 0.9995 & 0.997 as targets.

Comment: the pair remains on the upside and is challenging its previous high, the RSI stands above its neutrality area.

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

Pivot: 97.05

Our preference: SHORT positions below 97.05 with 95 & 93.7 in sight.

Alternative scenario: The upside breakout of 97.05 will open the way to 98.1 & 99.3.

Comment: as long as the resistance at 97.05 is not surpassed, the risk of the break below 95 remains high.

GOLD (Spot) intraday: key ST resistance at 1629

Pivot: 1629.00

Our preference: SHORT positions below 1629 with targets @ 1598 & 1589.

Alternative scenario: The upside penetration of 1629 will call for 1640 & 1654.

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

Dow Jones (Mar 13) intraday: key ST resistance at 14000

Pivot: 14000

Our preference: SHORT positions below 14000 with 13880 & 13800 in sight.

Alternative scenario: The upside breakout of 14000 will open the way to 14035 & 14070.

Comment: as long as 14000 is resistance, look for choppy price action with a bearish bias.

S&P 500 (Mar 13) intraday: key ST resistance at 1522

Pivot: 1522

Our preference: SHORT positions below 1522 with 1510 & 1504 as next targets.

Alternative scenario: The upside breakout of 1522 will open the way to 1525 & 1529.

Comment: as long as 1522 is resistance, look for choppy price action with a bearish bias.

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