Free Afternoon Forex Trading signals – June 27, 2013

EUR/USD GBP/USD USD/CHF USD/CAD CRUDE OIL GOLD DOWJONES S&P 500
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 downside prevails.

Pivot: 1.3055

Our preference: Short positions below 1.3055 with targets @ 1.299 & 1.295 in extension.

Alternative scenario: Above 1.3055 look for further upside with 1.308 & 1.3115 as targets.

Comment: the pair is rebounding but remains within a bearish channel.

GBP/USD intraday: under pressure.

Pivot: 1.536

Our preference: Short positions below 1.536 with targets @ 1.5255 & 1.522 in extension.

Alternative scenario: Above 1.536 look for further upside with 1.54 & 1.543 as targets.

Comment: the pair is posting a rebound but remains under pressure.

USD/CHF intraday: the bias remains bullish.

Pivot: 0.94

Our preference: Long positions above 0.94 with targets @ 0.9465 & 0.949 in extension.

Alternative scenario: Below 0.94 look for further downside with 0.938 & 0.9355 as targets.

Comment: the pair remains supported by a rising trend line and is breaking above its resistance.

USD/CAD intraday: under pressure.

Pivot: 1.05

Our preference: Short positions below 1.05 with targets @ 1.042 & 1.039 in extension.

Alternative scenario: Above 1.05 look for further upside with 1.0555 & 1.061 as targets.

Comment: the pair is posting a rebound but remains within a bearish channel.

Crude Oil (Aug 13) intraday: bullish bias above 94.3

Pivot: 94.30

Our preference: LONG positions above 94.3 with targets @ 96.7 & 97.1.

Alternative scenario: The downside breakout of 94.3 will open the way to 93.7 & 93.1.

Comment: the RSI is mixed with a bullish bias.

GOLD (Spot) intraday: the downside prevails.

Pivot: 1250.00

Our preference: SHORT positions below 1250 with 1221 & 1202 in sight.

Alternative scenario: The upside breakout of 1250 will open the way to 1271 & 1290.

Comment: as long as the resistance at 1250 is not surpassed, the risk of the break below 1221 remains high.

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

Pivot: 14870

Our preference: SHORT positions below 14870 with targets @ 14470 & 14320.

Alternative scenario: The upside breakout of 14870 will open the way to 15020 & 15130.

Comment: as long as 14870 is resistance, look for choppy price action with a bearish bias.

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

Pivot: 1602

Our preference: SHORT positions below 1602 with 1553 & 1542 in sight.

Alternative scenario: The upside breakout of 1602 will open the way to 1620 & 1633.

Comment: as long as 1602 is resistance, look for choppy price action with a bearish bias.

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Note: We recommend not to use more than 5% of your equity in open trades at one time. Risk management is very important to minimize losses and maximize profits.
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