Free Afternoon Forex Trading signals – June 06, 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 upside prevails.

Pivot: 1.305

Our preference: Long positions above 1.305 with targets @ 1.313 & 1.3155 in extension.

Alternative scenario: Below 1.305 look for further downside with 1.303 & 1.299 as targets.

Comment: the pair remains on the upside and is challenging its previous high, the RSI is well directed.

GBP/USD intraday: supported by a rising trend line.

Pivot: 1.537

Our preference: Long positions above 1.537 with targets @ 1.5475 & 1.5525 in extension.

Alternative scenario: Below 1.537 look for further downside with 1.533 & 1.527 as targets.

Comment: the pair is supported by a rising trend line and should post further advance.

USD/CHF intraday: under pressure.

Pivot: 0.945

Our preference: Short positions below 0.945 with targets @ 0.939 & 0.936 in extension.

Alternative scenario: Above 0.945 look for further upside with 0.9475 & 0.9515 as targets.

Comment: the pair remains under pressure and is challenging its support.

USD/CAD intraday: under pressure.

Pivot: 1.034

Our preference: Short positions below 1.034 with targets @ 1.03 & 1.0275 in extension.

Alternative scenario: Above 1.034 look for further upside with 1.038 & 1.042 as targets.

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

Crude Oil (Jul 13) intraday: further upside.

Pivot: 93.40

Our preference: LONG positions above 93.4 with 95.2 & 95.85 as next targets.

Alternative scenario: The downside penetration of 93.4 will call for 92.4 & 91.35.

Comment: the July Crude Oil is breaking above a declining trend line.

GOLD (Spot) intraday: further upside.

Pivot: 1390.00

Our preference: LONG positions above 1390 with targets @ 1410 & 1422.

Alternative scenario: The downside penetration of 1390 will call for a slide towards 1374 & 1354.

Comment: the RSI has just broken above a declining trend line. A break above 1410 would have strong bullish implications to see 1445.

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

Pivot: 15215

Our preference: SHORT positions below 15215 with 14875 & 14820 as next targets.

Alternative scenario: The upside breakout of 15215 will open the way to 15285 & 15390.

Comment: as long as 15215 is resistance, look for choppy price action with a bearish bias.

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

Pivot: 1639

Our preference: SHORT positions below 1639 with 1595 & 1590 in sight.

Alternative scenario: The upside penetration of 1639 will call for a rebound towards 1647 & 1659.

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