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: 1.3495

Our preference: Long positions above 1.3495 with targets @ 1.358 & 1.3615 in extension.

Alternative scenario: Below 1.3495 look for further downside with 1.345 & 1.34 as targets.

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

GBP/USD intraday: consolidation in place.

Pivot: 1.611

Our preference: Short positions below 1.611 with targets @ 1.602 & 1.597 in extension.

Alternative scenario: Above 1.611 look for further upside with 1.616 & 1.62 as targets.

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

USD/CHF intraday: the downside prevails.

Pivot: 0.9135

Our preference: Short positions below 0.9135 with targets @ 0.907 & 0.902 in extension.

Alternative scenario: Above 0.9135 look for further upside with 0.917 & 0.92 as targets.

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

USD/CAD intraday: bullish bias above 1.026.

Pivot: 1.026

Our preference: Long positions above 1.026 with targets @ 1.0315 & 1.0335 in extension.

Alternative scenario: Below 1.026 look for further downside with 1.023 & 1.018 as targets.

Comment: the break above the resistance at 1.026 triggered an upward acceleration to 1.0315.

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

Pivot: 106.45

Our preference: SHORT positions below 106.45 with 104.9 & 104.4 in sight.

Alternative scenario: The upside breakout of 106.45 will open the way to 107.35 & 108.15.

Comment: as long as 106.45 is resistance, look for choppy price action with a bearish bias.

GOLD (Spot) intraday: the downside prevails.

Pivot: 1367.00

Our preference: SHORT positions below 1367 with 1343 & 1335 in sight.

Alternative scenario: The upside penetration of 1367 will call for 1375 & 1394.

Comment: the RSI is capped by a declining trend line.

Dow Jones (Dec 13) intraday: bullish bias above 15490

Pivot: 15490

Our preference: LONG positions above 15490 with 15750 & 15900 as next targets.

Alternative scenario: The downside penetration of 15490 will call for 15400 & 15290.

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

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

Pivot: 1702

Our preference: LONG positions above 1702 with 1730 & 1738 as next targets.

Alternative scenario: The downside penetration of 1702 will call for a slide towards 1693 & 1684.

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