Free Morning Forex Trading signals – Apr 23, 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: under pressure.

Pivot: 1.3085.

Our preference: SHORT positions below 1.3085 with 1.301 & 1.2985 in sight.

Alternative scenario: The upside penetration of 1.3085 will call for a rebound towards 1.3115 & 1.315.

Comment: the pair stands below its new resistance and remains under pressure, the RSI stands below its neutrality area.

GBP/USD intraday: rebound.

Pivot: 1.5245.

Our preference: LONG positions above 1.5245 with targets @ 1.5315 & 1.534.

Alternative scenario: The downside breakout of 1.5245 will open the way to 1.521 & 1.517.

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

USD/JPY intraday: under pressure.

Pivot: 99.40.

Our preference: SHORT positions below 99.4 with 98.5 & 97.95 as next targets.

Alternative scenario: The upside penetration of 99.4 will call for 99.9 & 100.6.

Comment: the pair remains under pressure and is challenging its support, the RSI is badly directed.

EUR/JPY intraday: the downside prevails.

Pivot: 129.9

Our preference: Short positions below 129.9 with targets @ 128.5 & 128 in extension.

Alternative scenario: Above 129.9 look for further upside with 130.8 & 131.5 as targets.

Comment: the pair remains on the downside and is challenging its support, the RSI stands below its neutrality area.

GBP/JPY intraday: the downside prevails.

Pivot: 151.5

Our preference: Short @ 151.3 with targets @ 150.5 & 149.6 in extension.

Alternative scenario: Above 151.5 look for further upside with 152.15 & 152.55 as targets.

Comment: the pair stands below its new resistance and remains on the downside.

AUD/USD intraday: the downside prevails.

Pivot: 1.0275

Our preference: Short @ 1.0255 with targets @ 1.022 & 1.02 in extension.

Alternative scenario: Above 1.0275 look for further upside with 1.031 & 1.0355 as targets.

Comment: the pair is trading in an intraday bearish channel.

Cac 40 (May 13) intraday: limited upside.

Pivot: 3560

Our preference: LONG positions above 3560 with targets @ 3612 & 3654.

Alternative scenario: The downside breakout of 3560 will open the way to 3545.5 & 3520.

Comment : the RSI is mixed to bullish.

Dax (Jun 13) intraday: range.

Pivot: 7440

Our preference: LONG positions above 7440 with targets @ 7535 & 7610.

Alternative scenario: The downside penetration of 7440 will call for a slide towards 7345 & 7290.

Comment: the RSI is mixed.