Free Afternoon Forex Trading signals – Sep 17, 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: 1.332Our preference: Long positions above 1.332 with targets @ 1.3385 & 1.341 in extension.

Alternative scenario: Below 1.332 look for further downside with 1.328 & 1.325 as targets.

Comment: the pair is rebounding above its support and should reach its previous high.

GBP/USD intraday: the upside prevails.

Pivot: 1.588Our preference: Long positions above 1.588 with targets @ 1.593 & 1.597 in extension.

Alternative scenario: Below 1.588 look for further downside with 1.583 & 1.577 as targets.

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

USD/CHF intraday: under pressure.

Pivot: 0.9285Our preference: Short positions below 0.9285 with targets @ 0.925 & 0.923 in extension.

Alternative scenario: Above 0.9285 look for further upside with 0.931 & 0.9335 as targets.

Comment: the pair remains under pressure and is challenging its support.

USD/CAD intraday: key ST resistance at 1.035.

Pivot: 1.035Our preference: Short positions below 1.035 with targets @ 1.0275 & 1.0245 in extension.

Alternative scenario: Above 1.035 look for further upside with 1.038 & 1.0415 as targets.

Comment: the RSI has struck against a major resistance around 70% and is reversing down.

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

Pivot: 106.40Our preference: SHORT positions below 106.4 with targets @ 105.25 & 104.7.

Alternative scenario: The upside penetration of 106.4 will call for a rebound towards 107.3 & 108.2.

Comment: as long as the resistance at 106.4 is not surpassed, the risk of the break below 105.25 remains high.

GOLD (Spot) intraday: key ST resistance at 1322

Pivot: 1322.00Our preference: SHORT positions below 1322 with 1305 & 1297 as next targets.

Alternative scenario: The upside penetration of 1322 will call for 1334 & 1343.

Comment: as long as 1322 is resistance, look for choppy price action with a bearish bias.

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

Pivot: 15310Our preference: LONG positions above 15310 with 15510 & 15560 in sight.

Alternative scenario: The downside breakout of 15310 will open the way to 15210 & 15120.

Comment: the RSI is mixed with a bullish bias.

S&P 500 (Dec 13) intraday: bullish bias above 1682

Pivot: 1682Our preference: LONG positions above 1682 with 1705 & 1712 in sight.

Alternative scenario: The downside penetration of 1682 will call for a slide towards 1674 & 1670.

Comment: the RSI is supported by a rising trend line.