Free Afternoon Forex Trading signals – July 10, 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 downside prevails.

Pivot: 1.2865

Our preference: Short positions below 1.2865 with targets @ 1.2745 & 1.265 in extension.

Alternative scenario: Above 1.2865 look for further upside with 1.292 & 1.298 as targets.

Comment: the pair is posting a rebound but stands below its new resistance.

GBP/USD intraday: the downside prevails.

Pivot: 1.5

Our preference: Short positions below 1.5 with targets @ 1.481 & 1.473 in extension.

Alternative scenario: Above 1.5 look for further upside with 1.508 & 1.513 as targets.

Comment: the pair is posting a rebound but stands below its resistance.

USD/CHF intraday: the upside prevails.

Pivot: 0.9665

Our preference: Long positions above 0.9665 with targets @ 0.9755 & 0.9785 in extension.

Alternative scenario: Below 0.9665 look for further downside with 0.9625 & 0.9585 as targets.

Comment: the pair is rebounding on its new support as the RSI is reversing up.

USD/CAD intraday: under pressure.

Pivot: 1.0555

Our preference: Short positions below 1.0555 with targets @ 1.0485 & 1.0455 in extension.

Alternative scenario: Above 1.0555 look for further upside with 1.0585 & 1.061 as targets.

Comment: the pair remains within a bearish channel and is challenging its support.

Crude Oil (Aug 13) intraday: the bias remains bullish.

Pivot: 103.20

Our preference: LONG positions above 103.2 with 106 & 106.85 in sight.

Alternative scenario: The downside penetration of 103.2 will call for a slide towards 102 & 100.5.

Comment: the immediate trend remains up and the momentum is strong.

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1241.00

Our preference: LONG positions above 1241 with targets @ 1267.5 & 1277.

Alternative scenario: The downside penetration of 1241 will call for a slide towards 1228 & 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 a slide towards 14990 & 14885.

Comment: the RSI is capped by a declining trend line.

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 : the RSI is mixed.