Free Afternoon Forex Trading signals – Sep 18, 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: 1.332

Our 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 stands above its support and remains on the upside.

GBP/USD intraday: the upside prevails.

Pivot: 1.592

Our preference: Long positions above 1.592 with targets @ 1.6 & 1.6035 in extension.

Alternative scenario: Below 1.592 look for further downside with 1.588 & 1.583 as targets.

Comment: the pair remains on the upside and is challenging its previous high.

USD/CHF intraday: under pressure.

Pivot: 0.9285

Our preference: Short positions below 0.9285 with targets @ 0.9245 & 0.923 in extension.

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

Comment: the pair is posting a rebound but stands below its resistance.

USD/CAD intraday: the downside prevails.

Pivot: 1.033

Our preference: Short positions below 1.033 with targets @ 1.0275 & 1.0245 in extension.

Alternative scenario: Above 1.033 look for further upside with 1.0355 & 1.038 as targets.

Comment: as long as the resistance at 1.033 is not surpassed, the risk of the break below 1.0275 remains high.

Crude Oil (Nov 13) intraday: up turn.

Pivot: 104.40

Our preference: LONG positions above 104.4 with targets @ 105.95 & 106.7.

Alternative scenario: The downside penetration of 104.4 will call for a slide towards 103.75 & 103.1.

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

GOLD (Spot) intraday: under pressure.

Pivot: 1308.00

Our preference: SHORT positions below 1308 with 1291 & 1279 as next targets.

Alternative scenario: The upside penetration of 1308 will call for 1318 & 1334.

Comment: as long as the resistance at 1308 is not surpassed, the risk of the break below 1291 remains high.

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

Pivot: 15310

Our preference: LONG positions above 15310 with targets @ 15510 & 15560.

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

Comment: the RSI has just landed on its neutrality area at 50% and is turning up.

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

Pivot: 1682

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

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

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