Free Afternoon Forex Trading signals – June 11, 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: 1.321

Our preference: Long positions above 1.321 with targets @ 1.331 & 1.337 in extension.

Alternative scenario: Below 1.321 look for further downside with 1.318 & 1.314 as targets.

Comment: the pair has validated a bullish flag and remains on the upside.

GBP/USD intraday: the upside prevails.

Pivot: 1.548

Our preference: Long positions above 1.548 with targets @ 1.562 & 1.569 in extension.

Alternative scenario: Below 1.548 look for further downside with 1.5425 & 1.537 as targets.

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

USD/CHF intraday: the downside prevails.

Pivot: 0.933

Our preference: Short positions below 0.933 with targets @ 0.9245 & 0.92 in extension.

Alternative scenario: Above 0.933 look for further upside with 0.9375 & 0.942 as targets.

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

USD/CAD intraday: continuation of the rebound.

Pivot: 1.017

Our preference: Long positions above 1.017 with targets @ 1.028 & 1.03 in extension.

Alternative scenario: Below 1.017 look for further downside with 1.014 & 1.01 as targets.

Comment: the RSI has just broken above a declining trend line.

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

Pivot: 95.95

Our preference: SHORT positions below 95.95 with targets @ 93.75 & 92.4.

Alternative scenario: The upside breakout of 95.95 will open the way to 96.4 & 97.3.

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

GOLD (Spot) intraday: the downside prevails.

Pivot: 1389.00

Our preference: SHORT positions below 1389 with 1354 & 1338 in sight.

Alternative scenario: The upside breakout of 1389 will open the way to 1402 & 1423.

Comment: the bearish rectangle pattern calls for an extension of the downward track towards 1354.

Dow Jones (Jun 13) intraday: choppy.

Pivot: 15100

Our preference: LONG positions above 15100 with 15285 & 15390 in sight.

Alternative scenario: The downside breakout of 15100 will open the way to 14820 & 14740.

Comment: the RSI is capped by a declining trend line.

S&P 500 (Jun 13) intraday: caution.

Pivot: 1624

Our preference: LONG positions above 1624 with 1649 & 1660 in sight.

Alternative scenario: The downside penetration of 1624 will call for 1596 & 1582.

Comment: the RSI broke below a bullish trend line.