Free Afternoon Forex Trading signals – Sep 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: key resistance at 1.33.

Pivot: 1.33

Our preference: Short positions below 1.33 with targets @ 1.3255 & 1.323 in extension.

Alternative scenario: Above 1.33 look for further upside with 1.3325 & 1.336 as targets.

Comment: the pair is rebounding and is challenging its resistance.

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 has rebounded on its support and remains on the upside.

USD/CHF intraday: under pressure.

Pivot: 0.9335

Our preference: Short positions below 0.9335 with targets @ 0.929 & 0.927 in extension.

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

Comment: the pair stands below its resistance and remains under pressure.

USD/CAD intraday: key ST resistance at 1.0345.

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: as long as the resistance at 1.0345 is not surpassed, the risk of the break below 1.029 remains high.

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

Pivot: 108.45

Our preference: SHORT positions below 108.45 with targets @ 107.3 & 106.4.

Alternative scenario: The upside penetration of 108.45 will call for 109.1 & 109.75.

Comment: break of a ST rising trendline support.

GOLD (Spot) intraday: the downside prevails.

Pivot: 1320.00

Our preference: SHORT positions below 1320 with 1297 & 1288 in sight.

Alternative scenario: The upside breakout of 1320 will open the way to 1331 & 1343.

Comment: capped by a negative trend line.

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

Pivot: 15190

Our preference: LONG positions above 15190 with targets @ 15360 & 15425.

Alternative scenario: The downside breakout of 15190 will open the way to 15080 & 15000.

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

S&P 500 (Sep 13) intraday: bullish bias above 1675

Pivot: 1675

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

Alternative scenario: The downside breakout of 1675 will open the way to 1665 & 1657.

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