Free Afternoon Forex Trading signals – July 15, 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: key ST resistance at 1.314

Pivot: 1.3140.

Our preference: SHORT positions below 1.314 with 1.2995 & 1.295 as next targets.

Alternative scenario: The upside penetration of 1.314 will call for a rebound towards 1.3205 & 1.325.

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

GBP/USD intraday: the downside prevails.

Pivot: 1.513

Our preference: Short positions below 1.513 with targets @ 1.5 & 1.491 in extension.

Alternative scenario: Above 1.513 look for further upside with 1.5185 & 1.522 as targets.

Comment: the break below the 1.508 support area calls for further weakness.

USD/CHF intraday: under pressure.

Pivot: 0.953

Our preference: Short positions below 0.953 with targets @ 0.944 & 0.94 in extension.

Alternative scenario: Above 0.953 look for further upside with 0.958 & 0.962 as targets.

Comment: as long as 0.953 is resistance, look for choppy price action with a bearish bias.

USD/CAD intraday: consolidation in place.

Pivot: 1.0435

Our preference: Short positions below 1.0435 with targets @ 1.0325 & 1.0285 in extension.

Alternative scenario: Above 1.0435 look for further upside with 1.047 & 1.052 as targets.

Comment: the RSI lacks upward momentum.

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

Pivot: 104.00

Our preference: LONG positions above 104 with targets @ 107.8 & 110.

Alternative scenario: The downside penetration of 104 will call for 102 & 100.5.

Comment: intraday support around 104

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1267.00

Our preference: LONG positions above 1267 with targets @ 1300 & 1327.

Alternative scenario: The downside breakout of 1267 will open the way to 1247 & 1232.

Comment: Gold price are supported by a rising trend line.

Dow Jones (Sep 13) intraday: bullish bias above 15330

Pivot: 15330

Our preference: LONG positions above 15330 with 15490 & 15560 in sight.

Alternative scenario: The downside penetration of 15330 will call for 15260 & 15180.

Comment: the next resistances are at 15490 and then at 15560.

S&P 500 (Sep 13) intraday: bullish bias above 1660

Pivot: 1660

Our preference: LONG positions above 1660 with 1680 & 1685 as next targets.

Alternative scenario: The downside penetration of 1660 will call for a slide towards 1650 & 1639.

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