Free Morning Forex Trading signals – Apr 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 downside prevails.

Pivot: 1.3085.

Our preference: SHORT positions @ 1.307 with targets @ 1.2985 & 1.295.

Alternative scenario: The upside penetration of 1.3085 will call for a rebound towards 1.3115 & 1.3165.

Comment: the pair is posting a rebound but stands below its new resistance, the RSI is reversing down.

GBP/USD intraday: under pressure.

Pivot: 1.5275.

Our preference: SHORT positions @ 1.526 with 1.521 & 1.518 in sight.

Alternative scenario: The upside breakout of 1.5275 will open the way to 1.53 & 1.5335.

Comment: the pair stands below its resistance and remains under pressure, the RSI is turning down.

USD/JPY intraday: key ST resistance at 98.4

Pivot: 98.40.

Our preference: SHORT positions @ 98.3 with targets @ 97.6 & 97.1.

Alternative scenario: The upside penetration of 98.4 will call for 98.7 & 99.1.

Comment: the pair has struck against its resistance and remains under pressure, the RSI is reversing down.

EUR/JPY intraday: under pressure.

Pivot: 128.95

Our preference: Short @ 128.8 with targets @ 127.15 & 126 in extension.

Alternative scenario: Above 128.95 look for further upside with 129.7 & 130.2 as targets.

Comment: the pair is rebounding but stands below its resistance, the RSI is reversing down.

GBP/JPY intraday: key ST resistance at 150.2.

Pivot: 150.2

Our preference: Short @ 150 with targets @ 148.7 & 147.6 in extension.

Alternative scenario: Above 150.2 look for further upside with 151.2 & 151.7 as targets.

Comment: the pair has struck against its resistance and should face further weakness as the RSI is reversing down.

AUD/USD intraday: under pressure.

Pivot: 1.035

Our preference: Short positions below 1.035 with targets @ 1.026 & 1.0235 in extension.

Alternative scenario: Above 1.035 look for further upside with 1.0395 & 1.0445 as targets.

Comment: the pair remains on the downside and is approaching its previous low.

Cac 40 (Apr 13) intraday: under pressure.

Pivot: 3641

Our preference: SHORT positions below 3641 with 3560 & 3507 as next targets.

Alternative scenario: The upside penetration of 3641 will call for a rebound towards 3675 & 3720.

Comment : Prices are evolving below the descending 50-simple moving average.

Dax (Jun 13) intraday: consolidation.

Pivot: 7620

Our preference: SHORT positions below 7620 with 7490 & 7375 as next targets.

Alternative scenario: The upside breakout of 7620 will open the way to 7660 & 7744.

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