Free Afternoon Forex Trading signals – Feb 25, 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: further advance.

Pivot: 1.3205

Our preference: Long positions above 1.3205 with targets @ 1.3305 & 1.333 in extension.

Alternative scenario: Below 1.3205 look for further downside with 1.3165 & 1.3135 as targets.

Comment: the pair is breaking above its resistance and should post further advance.

GBP/USD intraday: the downside prevails.

Pivot: 1.523

Our preference: Short positions below 1.523 with targets @ 1.508 & 1.504 in extension.

Alternative scenario: Above 1.523 look for further upside with 1.533 & 1.541 as targets.

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

USD/CHF intraday: under pressure.

Pivot: 0.928

Our preference: Short positions below 0.928 with targets @ 0.9215 & 0.919 in extension.

Alternative scenario: Above 0.928 look for further upside with 0.9305 & 0.933 as targets.

Comment: the pair has broken below its support and should face further weakness, the RSI is badly directed but is also oversold.

USD/CAD intraday: the upside prevails.

Pivot: 1.0195

Our preference: Long positions above 1.0195 with targets @ 1.026 & 1.029 in extension.

Alternative scenario: Below 1.0195 look for further downside with 1.017 & 1.014 as targets.

Comment: the pair has rebounded on its new support and remains on the upside, the RSI stands around its neutrality area.

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

Pivot: 94.25

Our preference: SHORT positions below 94.25 with 92 & 91 as next targets.

Alternative scenario: The upside penetration of 94.25 will call for a rebound towards 95.7 & 97.5.

Comment: as long as the resistance at 94.25 is not surpassed, the risk of the break below 92 remains high.

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1570.00

Our preference: LONG positions above 1570 with 1597 & 1619 in sight.

Alternative scenario: The downside penetration of 1570 will call for 1555 & 1525.

Comment: the break above 1570 is a positive signal that has opened a path to 1597.

Dow Jones (Mar 13) intraday: the upside prevails.

Pivot: 13885

Our preference: LONG positions above 13885 with 14085 & 14120 as next targets.

Alternative scenario: The downside penetration of 13885 will call for a slide towards 13810 & 13735.

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

S&P 500 (Mar 13) intraday: the upside prevails.

Pivot: 1510

Our preference: LONG positions above 1510 with 1526 & 1530 in sight.

Alternative scenario: The downside penetration of 1510 will call for a slide towards 1503 & 1495.

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