Free Morning Forex Trading signals – Aug 13, 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: 1.3345.

Our preference: SHORT positions @ 1.3335 with targets @ 1.326 & 1.3225.

Alternative scenario: The upside penetration of 1.3345 will call for 1.3365 & 1.339.

Comment: the pair has broken below a rising trend line and remains under pressure.

GBP/USD intraday: key ST resistance at 1.552

Pivot: 1.5520.

Our preference: SHORT positions @ 1.551 with 1.5435 & 1.5385 as next targets.

Alternative scenario: The upside breakout of 1.552 will open the way to 1.5555 & 1.5595.

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

USD/JPY intraday: further advance.

Pivot: 96.75.

Our preference: LONG positions @ 96.8 with targets @ 97.8 & 98.25.

Alternative scenario: The downside penetration of 96.75 will call for 96.35 & 95.9.

Comment: the pair has broken above its resistance and should post further advance.

EUR/JPY intraday: further advance.

Pivot: 128.7

Our preference: Long positions above 128.7 with targets @ 129.75 & 130.2 in extension.

Alternative scenario: Below 128.7 look for further downside with 128.25 & 127.9 as targets.

Comment: the pair remains on the upside and should post further advance as the RSI is well directed.

GBP/JPY intraday: continuation of the rebound.

Pivot: 149.2

Our preference: Long positions above 149.2 with targets @ 151.4 & 152 in extension.

Alternative scenario: Below 149.2 look for further downside with 148.8 & 148.2 as targets.

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

AUD/USD intraday: under pressure.

Pivot: 0.9185

Our preference: Short positions below 0.9185 with targets @ 0.909 & 0.904 in extension.

Alternative scenario: Above 0.9185 look for further upside with 0.922 & 0.9255 as targets.

Comment: the pair is capped by its 50-periods moving average (in dark blue).

Cac 40 (Aug 13) intraday: target 4105

Pivot: 4045

Our preference: LONG positions above 4045 with 4105 & 4120 in sight.

Alternative scenario: The downside breakout of 4045 will open the way to 4013 & 4000.

Comment : A support basis has taken shape around 4050 points.

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

Pivot: 8230

Our preference: LONG positions above 8230 with 8435 & 8460 in sight.

Alternative scenario: The downside penetration of 8230 will call for a slide towards 8140 & 8088.

Comment: the RSI advocates for further upside.