Free Morning Forex Trading signals – Apr 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 bias remains bullish.

Pivot: 1.3020.

Our preference: LONG positions @ 1.303 with targets @ 1.309 & 1.3115.

Alternative scenario: The downside breakout of 1.302 will open the way to 1.2985 & 1.295.

Comment: the pair has rebounded on its support and remains on the upside, the RSI is well directed.

GBP/USD intraday: bullish bias above 1.5255

Pivot: 1.5255.

Our preference: LONG positions @ 1.5265 with targets @ 1.531 & 1.5335.

Alternative scenario: The downside breakout of 1.5255 will open the way to 1.521 & 1.518.

Comment: the pair remains on the upside and is approaching its resistance, the RSI is well directed.

USD/JPY intraday: the upside prevails.

Pivot: 97.60.

Our preference: LONG positions above 97.6 with 98.7 & 99.1 as next targets.

Alternative scenario: The downside penetration of 97.6 will call for a slide towards 97.1 & 96.5.

Comment: the pair remains on the upside and is challenging its resistance, the RSI is well directed.

EUR/JPY intraday: the upside prevails.

Pivot: 128

Our preference: Long positions above 128 with targets @ 128.95 & 129.7 in extension.

Alternative scenario: Below 128 look for further downside with 127.3 & 126.4 as targets.

Comment: the pair remains on the upside and is challenging its resistance, the RSI is well directed.

GBP/JPY intraday: the upside prevails.

Pivot: 149.6

Our preference: Long @ 149.8 with targets @ 151.2 & 151.7 in extension.

Alternative scenario: Below 149.6 look for further downside with 149 & 148.05 as targets.

Comment: the pair remains on the upside and should reach its previous high as the RSI is still well directed.

AUD/USD intraday: key ST resistance at 1.035.

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 is rebounding but stands below its resistance.

Cac 40 (Apr 13) intraday: rebound expected.

Pivot: 3580

Our preference: LONG positions above 3580 with 3675 & 3709 as next targets.

Alternative scenario: The downside penetration of 3580 will call for 3560 & 3507.

Comment : the RSI broke above a declining trend line.

Dax (Jun 13) intraday: rebound expected.

Pivot: 7440

Our preference: LONG positions above 7440 with targets @ 7583 & 7660.

Alternative scenario: The downside penetration of 7440 will call for 7290 & 7000.

Comment: the RSI calls for a rebound.