Free Afternoon Forex Trading signals – Sep 12, 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: 1.327

Our preference: Long positions above 1.327 with targets @ 1.333 & 1.336 in extension.

Alternative scenario: Below 1.327 look for further downside with 1.323 & 1.319 as targets.

Comment: the pair stands above its support and should post a rebound as the RSI is reversing up.

GBP/USD intraday: the upside prevails.

Pivot: 1.577

Our preference: Long positions above 1.577 with targets @ 1.5835 & 1.587 in extension.

Alternative scenario: Below 1.577 look for further downside with 1.5735 & 1.568 as targets.

Comment: the pair stands above its support and remains on the upside.

USD/CHF intraday: under pressure.

Pivot: 0.9335

Our preference: Short positions below 0.9335 with targets @ 0.9285 & 0.9265 in extension.

Alternative scenario: Above 0.9335 look for further upside with 0.937 & 0.939 as targets.

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

USD/CAD intraday: the downside prevails.

Pivot: 1.0345

Our preference: Short positions below 1.0345 with targets @ 1.029 & 1.027 in extension.

Alternative scenario: Above 1.0345 look for further upside with 1.038 & 1.0415 as targets.

Comment: the RSI lacks upward momentum.

Crude Oil (Oct 13) intraday: bullish bias above 107.3

Pivot: 107.30

Our preference: LONG positions above 107.3 with 108.9 & 109.75 as next targets.

Alternative scenario: The downside penetration of 107.3 will call for a slide towards 106.4 & 105.6.

Comment: the RSI is bullish and calls for further upside.

GOLD (Spot) intraday: the downside prevails.

Pivot: 1357.00

Our preference: SHORT positions below 1357 with 1335 & 1319 as next targets.

Alternative scenario: The upside breakout of 1357 will open the way to 1369 & 1379.

Comment: as long as 1357 is resistance, likely decline to 1335.

Dow Jones (Sep 13) intraday: the bias remains bullish.

Pivot: 15190

Our preference: LONG positions above 15190 with 15360 & 15425 in sight.

Alternative scenario: The downside penetration of 15190 will call for 15080 & 15000.

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

S&P 500 (Sep 13) intraday: intraday support around 1675

Pivot: 1675

Our preference: LONG positions above 1675 with 1694 & 1697 in sight.

Alternative scenario: The downside penetration of 1675 will call for 1665 & 1657.

Comment: the immediate trend remains up and the momentum is strong.