Free Afternoon Forex Trading signals – July 09, 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: 1.292

Our preference: Short positions below 1.292 with targets @ 1.284 & 1.28 in extension.

Alternative scenario: Above 1.292 look for further upside with 1.298 & 1.304 as targets.

Comment: the pair has struck against its resistance and remains under pressure, the RSI is reversing down.

GBP/USD intraday: key ST resistance at 1.5015.

Pivot: 1.5015

Our preference: Short positions below 1.5015 with targets @ 1.481 & 1.473 in extension.

Alternative scenario: Above 1.5015 look for further upside with 1.508 & 1.513 as targets.

Comment: the pair has posted a new low and is rebounding ahead of further weakness.

USD/CHF intraday: further advance.

Pivot: 0.9595

Our preference: Long positions above 0.9595 with targets @ 0.971 & 0.9755 in extension.

Alternative scenario: Below 0.9595 look for further downside with 0.956 & 0.9515 as targets.

Comment: the pair remains on the upside as the RSI is well directed.

USD/CAD intraday: under pressure.

Pivot: 1.0585

Our preference: Short positions below 1.0585 with targets @ 1.0505 & 1.0485 in extension.

Alternative scenario: Above 1.0585 look for further upside with 1.061 & 1.0635 as targets.

Comment: the pair is rebounding but remains within a bearish channel.

Crude Oil (Aug 13) intraday: further upside.

Pivot: 102.00

Our preference: LONG positions above 102 with 104 & 105.3 as next targets.

Alternative scenario: The downside penetration of 102 will call for a slide towards 100.5 & 99.8.

Comment: a support base at 102 has formed and has allowed for a temporary stabilisation.

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1232.00

Our preference: LONG positions above 1232 with 1267.5 & 1277 as next targets.

Alternative scenario: The downside penetration of 1232 will call for 1218 & 1208.

Comment: the price has broken above a declining trend line.

Dow Jones (Sep 13) intraday: bullish bias above 15110

Pivot: 15110

Our preference: LONG positions above 15110 with targets @ 15275 & 15330.

Alternative scenario: The downside penetration of 15110 will call for 14990 & 14885.

Comment: the RSI is mixed with a bullish bias.

S&P 500 (Sep 13) intraday: bullish bias above 1631

Pivot: 1631

Our preference: LONG positions above 1631 with 1649 & 1655 as next targets.

Alternative scenario: The downside penetration of 1631 will call for a slide towards 1618 & 1606.

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