Free Afternoon Forex Trading signals – June 03, 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: 1.303

Our preference: Short positions below 1.303 with targets @ 1.295 & 1.2915 in extension.

Alternative scenario: Above 1.303 look for further upside with 1.306 & 1.309 as targets.

Comment: the pair has struck against its resistance and should face further weakness.

GBP/USD intraday: the upside prevails.

Pivot: 1.5185

Our preference: Long positions above 1.5185 with targets @ 1.528 & 1.532 in extension.

Alternative scenario: Below 1.5185 look for further downside with 1.515 & 1.511 as targets.

Comment: the pair stands above its new support and remains on the upside.

USD/CHF intraday: key ST resistance at 0.96.

Pivot: 0.96

Our preference: Short positions below 0.96 with targets @ 0.951 & 0.9465 in extension.

Alternative scenario: Above 0.96 look for further upside with 0.966 & 0.9705 as targets.

Comment: the pair is rebounding but stands below its resistance.

USD/CAD intraday: further advance.

Pivot: 1.032

Our preference: Long positions above 1.032 with targets @ 1.0385 & 1.04 in extension.

Alternative scenario: Below 1.032 look for further downside with 1.029 & 1.0265 as targets.

Comment: the pair remains on the upside and is approaching its resistance, the RSI is reversing up.

Crude Oil (Jul 13) intraday: under pressure.

Pivot: 93.20

Our preference: SHORT positions below 93.2 with targets @ 90.35 & 89.65.

Alternative scenario: The upside penetration of 93.2 will call for 94.2 & 95.85.

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

GOLD (Spot) intraday: the downside prevails.

Pivot: 1422.00

Our preference: SHORT positions below 1422 with 1374 & 1354 as next targets.

Alternative scenario: The upside penetration of 1422 will call for 1445 & 1475.

Comment: gold prices have broken below a rising trend line.

Dow Jones (Jun 13) intraday: the downside prevails.

Pivot: 15270

Our preference: SHORT positions below 15270 with 15075 & 15000 in sight.

Alternative scenario: The upside breakout of 15270 will open the way to 15410 & 15520.

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

S&P 500 (Jun 13) intraday: under pressure.

Pivot: 1644

Our preference: SHORT positions below 1644 with 1620 & 1615 in sight.

Alternative scenario: The upside penetration of 1644 will call for a rebound towards 1659 & 1673.

Comment: the RSI is bearish and calls for further decline.