Free Afternoon Forex Trading signals – Sep 05, 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: rebound.

Pivot: 1.3155

Our preference: Long positions above 1.3155 with targets @ 1.3225 & 1.3255 in extension.

Alternative scenario: Below 1.3155 look for further downside with 1.3135 & 1.3115 as targets.

Comment: the pair has rebounded and is challenging its new resistance.

GBP/USD intraday: the upside prevails.

Pivot: 1.559

Our preference: Long positions above 1.559 with targets @ 1.5675 & 1.5715 in extension.

Alternative scenario: Below 1.559 look for further downside with 1.555 & 1.5525 as targets.

Comment: the pair is rebounding on its support as the RSI is turning up.

USD/CHF intraday: the bias remains bullish.

Pivot: 0.935

Our preference: Long positions above 0.935 with targets @ 0.9415 & 0.944 in extension.

Alternative scenario: Below 0.935 look for further downside with 0.933 & 0.931 as targets.

Comment: the pair has broken above its resistance and is facing a pull back ahead of further advance.

USD/CAD intraday: key ST resistance at 1.0515.

Pivot: 1.0515

Our preference: Short positions below 1.0515 with targets @ 1.0465 & 1.0435 in extension.

Alternative scenario: Above 1.0515 look for further upside with 1.054 & 1.0555 as targets.

Comment: as long as 1.0515 is resistance, likely decline to 1.0465.

Crude Oil (Oct 13) intraday: up turn.

Pivot: 107.00

Our preference: LONG positions above 107 with 108.35 & 109.15 in sight.

Alternative scenario: The downside breakout of 107 will open the way to 105.5 & 104.3.

Comment: a support base at 107 has formed and has allowed for a temporary stabilisation.

GOLD (Spot) intraday: under pressure.

Pivot: 1403.00

Our preference: SHORT positions below 1403 with 1381 & 1374 in sight.

Alternative scenario: The upside penetration of 1403 will call for 1416 & 1423.

Comment: as long as 1403 is resistance, likely decline to 1381.

Dow Jones (Sep 13) intraday: bullish bias above 14825

Pivot: 14825

Our preference: LONG positions above 14825 with targets @ 14995 & 15030.

Alternative scenario: The downside penetration of 14825 will call for a slide towards 14740 & 14680.

Comment: the RSI is mixed with a bullish bias.

S&P 500 (Sep 13) intraday: bullish bias above 1642

Pivot: 1642

Our preference: LONG positions above 1642 with 1667 & 1675 in sight.

Alternative scenario: The downside penetration of 1642 will call for 1631 & 1625.

Comment: the RSI is mixed with a bullish bias.