Free Morning Forex Trading signals – Apr 2, 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: 1.2825.

Our preference: LONG positions above 1.2825 with 1.2895 & 1.292 as next targets.

Alternative scenario: The downside penetration of 1.2825 will call for a slide towards 1.28 & 1.277.

Comment: the pair is on the upside and is approaching its next resistance, the RSI stands above its neutrality area.

GBP/USD intraday: further advance.

Pivot: 1.5195.

Our preference: LONG positions above 1.5195 with targets @ 1.526 & 1.529.

Alternative scenario: The downside penetration of 1.5195 will call for 1.517 & 1.513.

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

USD/JPY intraday: the downside prevails.

Pivot: 93.40.

Our preference: SHORT positions below 93.4 with targets @ 92.4 & 92.

Alternative scenario: The upside penetration of 93.4 will call for 93.85 & 94.4.

Comment: the pair stands below its resistance and remains on the downside, the RSI is badly directed.

EUR/JPY intraday: the downside prevails.

Pivot: 120.25

Our preference: Short @ 120.15 with targets @ 118.9 & 118.5 in extension.

Alternative scenario: Above 120.25 look for further upside with 120.95 & 121.35 as targets.

Comment: the pair is breaking below its support and should face further weakness as the RSI is badly directed.

GBP/JPY intraday: the downside prevails.

Pivot: 142.4

Our preference: Short positions below 142.4 with targets @ 140.85 & 140.5 in extension.

Alternative scenario: Above 142.4 look for further upside with 143 & 143.4 as targets.

Comment: the pair has broken below its support and remains on the downside as the RSI is badly directed.

AUD/USD intraday: the upside prevails.

Pivot: 1.043

Our preference: Long positions above 1.043 with targets @ 1.048 & 1.0495 in extension.

Alternative scenario: Below 1.043 look for further downside with 1.0415 & 1.04 as targets.

Comment: the pair stands above its new support and should reach its previous high as the RSI is well directed.

Cac 40 (Apr 13) intraday: rebound expected.

Pivot: 3655

Our preference: LONG positions above 3655 with 3750 & 3765 as next targets.

Alternative scenario: The downside breakout of 3655 will open the way to 3613 & 3600.

Comment : A falling wedge is confirmed

Dax (Jun 13) intraday: rebound expected.

Pivot: 7735

Our preference: LONG positions @ 7813 with 7870 & 7930 in sight.

Alternative scenario: The downside penetration of 7735 will call for a slide towards 7645 & 7582.

Comment: the RSI is mixed to bullish.