Free Afternoon Forex Trading signals – July 30, 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: 1.33

Our preference: Short positions below 1.33 with targets @ 1.3235 & 1.321 in extension.

Alternative scenario: Above 1.33 look for further upside with 1.3335 & 1.337 as targets.

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

GBP/USD intraday: under pressure.

Pivot: 1.537

Our preference: Short positions below 1.537 with targets @ 1.5295 & 1.526 in extension.

Alternative scenario: Above 1.537 look for further upside with 1.543 & 1.5485 as targets.

Comment: the pair remains on the downside and is challenging its support.

USD/CHF intraday: the upside prevails.

Pivot: 0.9265

Our preference: Long positions above 0.9265 with targets @ 0.934 & 0.937 in extension.

Alternative scenario: Below 0.9265 look for further downside with 0.924 & 0.921 as targets.

Comment: the pair is facing a pull back on its support.

USD/CAD intraday: key ST resistance at 1.0325.

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: as long as 1.0325 is resistance, look for choppy price action with a bearish bias.

Crude Oil (Sep 13) intraday: the downside prevails.

Pivot: 105.35

Our preference: SHORT positions below 105.35 with targets @ 103.2 & 102.

Alternative scenario: The upside breakout of 105.35 will open the way to 106.4 & 107.5.

Comment: Crude Oil prices remain within a descending channel.

GOLD (Spot) intraday: key ST resistance at 1340

Pivot: 1340.00

Our preference: SHORT positions below 1340 with 1309 & 1298 in sight.

Alternative scenario: The upside breakout of 1340 will open the way to 1348 & 1357.

Comment: as long as 1340 is resistance, expect a return to 1309.

Dow Jones (Sep 13) intraday: the bias remains bullish.

Pivot: 15395

Our preference: LONG positions above 15395 with targets @ 15530 & 15565.

Alternative scenario: The downside penetration of 15395 will call for 15345 & 15260.

Comment: the RSI is supported by a bullish trend line.

S&P 500 (Sep 13) intraday: the upside prevails.

Pivot: 1671

Our preference: LONG positions above 1671 with 1695 & 1701 in sight.

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

Comment: the RSI is supported by a rising trend line.