Free Morning Forex Trading signals – Apr 25, 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: 1.3005.

Our preference: LONG positions above 1.3005 with targets @ 1.3085 & 1.3115.

Alternative scenario: The downside penetration of 1.3005 will call for a slide towards 1.2965 & 1.2945.

Comment: the RSI has broken above a declining trend line, the pair has broken above its resistance and remains on the upside.

GBP/USD intraday: the upside prevails.

Pivot: 1.5260.

Our preference: LONG positions above 1.526 with 1.534 & 1.5365 as next targets.

Alternative scenario: The downside breakout of 1.526 will open the way to 1.524 & 1.522.

Comment: the pair has broken above its resistance and remains on the upside.

USD/JPY intraday: the bias remains bullish.

Pivot: 98.90.

Our preference: LONG positions above 98.9 with targets @ 99.6 & 99.9.

Alternative scenario: The downside breakout of 98.9 will open the way to 98.5 & 97.95.

Comment: the pair is facing a pull back but remains on the upside.

EUR/JPY intraday: further advance.

Pivot: 128.85

Our preference: Long @ 129 with targets @ 129.9 & 130.65 in extension.

Alternative scenario: Below 128.85 look for further downside with 128.5 & 127.85 as targets.

Comment: the pair remains on the upside and is approaching its next resistance.

GBP/JPY intraday: the upside prevails.

Pivot: 151.4

Our preference: Long positions above 151.4 with targets @ 152.55 & 153.05 in extension.

Alternative scenario: Below 151.4 look for further downside with 151.05 & 150.6 as targets.

Comment: the pair is facing a pull back on its support ahead of further advance.

AUD/USD intraday: further upside.

Pivot: 1.0285

Our preference: Long @ 1.031 with targets @ 1.0355 & 1.0395 in extension.

Alternative scenario: Below 1.0285 look for further downside with 1.025 & 1.0235 as targets.

Comment: the pair has broken above an intraday bearish channel resistance.

Cac 40 (May 13) intraday: target 3800

Pivot: 3695

Our preference: LONG positions above 3695 with 3800 & 3850 in sight.

Alternative scenario: The downside penetration of 3695 will call for 3640 & 3615.

Comment : the RSI is bullish and calls for further upside.

Dax (Jun 13) intraday: target 7895

Pivot: 7645

Our preference: LONG positions above 7645 with targets @ 7795 & 7895.

Alternative scenario: The downside penetration of 7645 will call for 7540 & 7450.

Comment: the RSI is bullish and calls for further upside.