Free Afternoon Forex Trading signals – July 04, 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: 1.296

Our preference: Long positions above 1.296 with targets @ 1.304 & 1.3075 in extension.

Alternative scenario: Below 1.296 look for further downside with 1.292 & 1.2875 as targets.

Comment: the pair stands above its support and remains on the upside.

GBP/USD intraday: the downside prevails.

Pivot: 1.522

Our preference: Short positions below 1.522 with targets @ 1.506 & 1.5 in extension.

Alternative scenario: Above 1.522 look for further upside with 1.5305 & 1.5345 as targets.

Comment: the pair has broken below its support and remains on the downside, the RSI is badly directed.

USD/CHF intraday: intraday support around 0.9455.

Pivot: 0.9455

Our preference: Long positions above 0.9455 with targets @ 0.95 & 0.954 in extension.

Alternative scenario: Below 0.9455 look for further downside with 0.943 & 0.94 as targets.

Comment: the pair is rebounding on its support as the RSI is well directed.

USD/CAD intraday: intraday support around 1.0485.

Pivot: 1.0485

Our preference: Long positions above 1.0485 with targets @ 1.0555 & 1.058 in extension.

Alternative scenario: Below 1.0485 look for further downside with 1.0455 & 1.042 as targets.

Comment: a support base at 1.0485 has formed and has allowed for a temporary stabilisation.

Crude Oil (Aug 13) intraday: further upside.

Pivot: 99.80

Our preference: LONG positions above 99.8 with targets @ 102.1 & 102.9.

Alternative scenario: The downside breakout of 99.8 will open the way to 99.2 & 98.35.

Comment: the RSI lacks downward momentum.

GOLD (Spot) intraday: further upside.

Pivot: 1233.00

Our preference: LONG positions above 1233 with targets @ 1271 & 1288.

Alternative scenario: The downside penetration of 1233 will call for 1223.5 & 1213.

Comment: the RSI is mixed to bullish.

Dow Jones (Sep 13) intraday: under pressure.

Pivot: 15020

Our preference: SHORT positions below 15020 with 14730 & 14620 as next targets.

Alternative scenario: The upside penetration of 15020 will call for 15090 & 15200.

Comment: as long as 15020 is resistance, look for choppy price action with a bearish bias.

S&P 500 (Sep 13) intraday: under pressure.

Pivot: 1620

Our preference: SHORT positions below 1620 with 1593 & 1579 in sight.

Alternative scenario: The upside breakout of 1620 will open the way to 1627 & 1641.

Comment : market closed due to the Independence Day