Free Afternoon Forex Trading signals – Feb 6, 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: 1.3615

Our preference: Short positions below 1.3615 with targets @ 1.3455 & 1.343 in extension.

Alternative scenario: Above 1.3615 look for further upside with 1.365 & 1.371 as targets.

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

GBP/USD intraday: key ST resistance at 1.569.

Pivot: 1.569

Our preference: Short positions below 1.569 with targets @ 1.56 & 1.5575 in extension.

Alternative scenario: Above 1.569 look for further upside with 1.571 & 1.574 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.569.

USD/CHF intraday: continuation of the rebound.

Pivot: 0.905

Our preference: Long positions above 0.905 with targets @ 0.917 & 0.9205 in extension.

Alternative scenario: Below 0.905 look for further downside with 0.9015 & 0.897 as targets.

Comment: the RSI broke above a declining trend line.

USD/CAD intraday: intraday support around 0.9945.

Pivot: 0.9945

Our preference: Long positions above 0.9945 with targets @ 1.0005 & 1.0045 in extension.

Alternative scenario: Below 0.9945 look for further downside with 0.9915 & 0.99 as targets.

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

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

Pivot: 96.70

Our preference: SHORT positions below 96.7 with 95.5 & 95 in sight.

Alternative scenario: The upside penetration of 96.7 will call for a rebound towards 97 & 97.4.

Comment: capped by a negative trend line.

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1661.00

Our preference: LONG positions above 1661 with targets @ 1684 & 1695.

Alternative scenario: The downside breakout of 1661 will open the way to 1652 & 1643.

Comment: supported by a rising trend line.

Dow Jones (Mar 13) intraday: bullish bias above 13800

Pivot: 13800

Our preference: LONG positions above 13800 with 13960 & 14035 as next targets.

Alternative scenario: The downside penetration of 13800 will call for a slide towards 13740 & 13670.

Comment: the next resistances are at 13960 and then at 14035.

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

Pivot: 1496

Our preference: LONG positions above 1496 with 1511 & 1515 in sight.

Alternative scenario: The downside breakout of 1496 will open the way to 1490 & 1483.

Comment: the next resistances are at 1511 and then at 1515.