Free Afternoon Forex Trading signals – June 13, 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: supported by a rising trend line.

Pivot: 1.3295

Our preference: Long positions above 1.3295 with targets @ 1.339 & 1.343 in extension.

Alternative scenario: Below 1.3295 look for further downside with 1.326 & 1.3225 as targets.

Comment: the pair is facing a pull back on its rising trend line.

GBP/USD intraday: the upside prevails.

Pivot: 1.56

Our preference: Long positions above 1.56 with targets @ 1.57 & 1.574 in extension.

Alternative scenario: Below 1.56 look for further downside with 1.5565 & 1.552 as targets.

Comment: the pair is rebounding on its new support and remains on the upside.

USD/CHF intraday: the downside prevails.

Pivot: 0.923

Our preference: Short positions below 0.923 with targets @ 0.915 & 0.911 in extension.

Alternative scenario: Above 0.923 look for further upside with 0.93 & 0.933 as targets.

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

USD/CAD intraday: bullish bias above 1.015.

Pivot: 1.015

Our preference: Long positions above 1.015 with targets @ 1.0225 & 1.025 in extension.

Alternative scenario: Below 1.015 look for further downside with 1.01 & 1.005 as targets.

Comment: the pair failed to accelerate on the downside after breaking below the 1.017 support area: this is a sign of strength.

Crude Oil (Jul 13) intraday: further advance.

Pivot: 94.45

Our preference: LONG positions above 94.45 with 96.4 & 98.1 as next targets.

Alternative scenario: The downside breakout of 94.45 will open the way to 93.2 & 91.35.

Comment: supported by a rising trend line.

GOLD (Spot) intraday: bullish bias above 1365

Pivot: 1365.00

Our preference: LONG positions above 1365 with targets @ 1402 & 1423.

Alternative scenario: The downside penetration of 1365 will call for a slide towards 1354 & 1338.

Comment: a support base at 1365 has formed and has allowed for a temporary stabilisation.

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

Pivot: 15130

Our preference: SHORT positions below 15130 with targets @ 14820 & 14740.

Alternative scenario: The upside breakout of 15130 will open the way to 15285 & 15390.

Comment: the RSI is below its neutrality area at 50%

S&P 500 (Jun 13) intraday: the downside prevails.

Pivot: 1630

Our preference: SHORT positions below 1630 with 1596 & 1582 in sight.

Alternative scenario: The upside penetration of 1630 will call for 1647 & 1660.

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