Free Afternoon Forex Trading signals – Sep 19, 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: 1.345

Our preference: Long positions above 1.345 with targets @ 1.358 & 1.3615 in extension.

Alternative scenario: Below 1.345 look for further downside with 1.34 & 1.336 as targets.

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

GBP/USD intraday: the upside prevails.

Pivot: 1.603

Our preference: Long positions above 1.603 with targets @ 1.611 & 1.616 in extension.

Alternative scenario: Below 1.603 look for further downside with 1.597 & 1.588 as targets.

Comment: the pair is facing a pull back on its new support.

USD/CHF intraday: the downside prevails.

Pivot: 0.917

Our preference: Short positions below 0.917 with targets @ 0.907 & 0.902 in extension.

Alternative scenario: Above 0.917 look for further upside with 0.92 & 0.9235 as targets.

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

USD/CAD intraday: the downside prevails.

Pivot: 1.023

Our preference: Short positions below 1.023 with targets @ 1.0175 & 1.0145 in extension.

Alternative scenario: Above 1.023 look for further upside with 1.027 & 1.0285 as targets.

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

Crude Oil (Nov 13) intraday: the bias remains bullish.

Pivot: 106.70

Our preference: LONG positions above 106.7 with targets @ 108.2 & 108.75.

Alternative scenario: The downside penetration of 106.7 will call for 105.7 & 104.4.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GOLD (Spot) intraday: further advance.

Pivot: 1338.00

Our preference: LONG positions above 1338 with 1374 & 1382 in sight.

Alternative scenario: The downside penetration of 1338 will call for 1321 & 1308.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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

Pivot: 15400

Our preference: LONG positions above 15400 with targets @ 15850 & 15900.

Alternative scenario: The downside penetration of 15400 will call for a slide towards 15290 & 15210.

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

S&P 500 (Dec 13) intraday: the upside prevails.

Pivot: 1693

Our preference: LONG positions above 1693 with 1730 & 1738 as next targets.

Alternative scenario: The downside breakout of 1693 will open the way to 1684 & 1674.

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