Free Afternoon Forex Trading signals – July 26, 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: bullish bias above 1.325

Pivot: 1.3250.

Our preference: LONG positions above 1.325 with targets @ 1.33 & 1.337.

Alternative scenario: The downside penetration of 1.325 will call for a slide towards 1.3175 & 1.315.

Comment: the upside breakout of 1.325 maintains a bullish bias while the pair is trading in a Broadening Formation.

GBP/USD intraday: bullish bias above 1.535.

Pivot: 1.535

Our preference: Long @ 1.538 with targets @ 1.543 & 1.5485 in extension.

Alternative scenario: Below 1.535 look for further downside with 1.5295 & 1.526 as targets.

Comment: the pair validated a Broadening Formation calling for further upside

USD/CHF intraday: the downside prevails.

Pivot: 0.934

Our preference: Short positions below 0.934 with targets @ 0.9265 & 0.924 in extension.

Alternative scenario: Above 0.934 look for further upside with 0.94 & 0.944 as targets.

Comment: a break below 0.9265 would trigger a drop towards 0.924.

USD/CAD intraday: under pressure.

Pivot: 1.0325

Our preference: Short positions below 1.0325 with targets @ 1.025 & 1.0215 in extension.

Alternative scenario: Above 1.0325 look for further upside with 1.0355 & 1.0395 as targets.

Comment: a break below 1.025 would trigger a drop towards 1.0215.

Crude Oil (Sep 13) intraday: under pressure.

Pivot: 105.90

Our preference: SHORT positions below 105.9 with 104.1 & 103.2 as next targets.

Alternative scenario: The upside breakout of 105.9 will open the way to 106.85 & 107.5.

Comment: Crude Oil prices remain within a descending channel.

GOLD (Spot) intraday: up turn.

Pivot: 1324.00

Our preference: LONG positions @ 1326 with targets @ 1340 & 1348.

Alternative scenario: The downside penetration of 1324 will call for 1309 & 1298.

Comment: intraday support around 1324

Dow Jones (Sep 13) intraday: intraday support around 15395

Pivot: 15395

Our preference: LONG positions above 15395 with 15564 & 15590 as next targets.

Alternative scenario: The downside breakout of 15395 will open the way to 15345 & 15260.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

S&P 500 (Sep 13) intraday: intraday support around 1671

Pivot: 1671

Our preference: LONG positions above 1671 with 1695 & 1701 as next targets.

Alternative scenario: The downside penetration of 1671 will call for 1666 & 1661.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.