Free Morning Forex Trading signals – Apr 3, 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: 1.2825.

Our preference: SHORT positions @ 1.2815 with targets @ 1.279 & 1.277.

Alternative scenario: The upside breakout of 1.2825 will open the way to 1.2845 & 1.2875.

Comment: the pair is posting a rebound but stands below its resistance, the RSI remains badly directed.

GBP/USD intraday: the downside prevails.

Pivot: 1.5135.

Our preference: SHORT positions below 1.5135 with targets @ 1.506 & 1.502.

Alternative scenario: The upside penetration of 1.5135 will call for a rebound towards 1.5175 & 1.522.

Comment: the pair remains on the downside and is challenging its support, the RSI is badly directed.

USD/JPY intraday: the upside prevails.

Pivot: 93.00.

Our preference: LONG positions above 93 with targets @ 93.85 & 94.4.

Alternative scenario: The downside breakout of 93 will open the way to 92.5 & 92.

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

EUR/JPY intraday: key ST resistance at 120.25.

Pivot: 120.25

Our preference: Short @ 120.15 with targets @ 119.1 & 118.5 in extension.

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

Comment: the pair stands below its resistance and remains capped by a declining trend line, the RSI stands around its neutrality area.

GBP/JPY intraday: key ST resistance at 141.85.

Pivot: 141.85

Our preference: Short positions below 141.85 with targets @ 140.5 & 140.1 in extension.

Alternative scenario: Above 141.85 look for further upside with 142.4 & 143 as targets.

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

AUD/USD intraday: bullish bias above 1.043.

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 is rebounding on its support as the RSI is turning up.

Cac 40 (Apr 13) intraday: the upside prevails.

Pivot: 3718

Our preference: LONG positions above 3718 with 3812 & 3837 in sight.

Alternative scenario: The downside penetration of 3718 will call for a slide towards 3670 & 3645.

Comment : the RSI advocates for further advance.

Dax (Jun 13) intraday: continuation of the rebound.

Pivot: 7792

Our preference: LONG positions above 7792 with 7990 & 8040 in sight.

Alternative scenario: The downside breakout of 7792 will open the way to 7735 & 7645.

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