Free Morning Forex Trading signals – Aug 19, 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: key ST resistance at 1.3365

Pivot: 1.3365.

Our preference: SHORT positions @ 1.335 with 1.3305 & 1.327 as next targets.

Alternative scenario: The upside penetration of 1.3365 will call for a rebound towards 1.338 & 1.34.

Comment: the pair is rebounding on its support but should be capped by its next resistance.

GBP/USD intraday: the bias remains bullish.

Pivot: 1.5570.

Our preference: LONG positions above 1.557 with 1.565 & 1.5685 in sight.

Alternative scenario: The downside penetration of 1.557 will call for 1.554 & 1.549.

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

USD/JPY intraday: key ST resistance at 98

Pivot: 98.00.

Our preference: SHORT positions @ 97.8 with targets @ 96.95 & 96.4.

Alternative scenario: The upside breakout of 98 will open the way to 98.3 & 98.65.

Comment: the pair stands below its resistance and remains under pressure.

EUR/JPY intraday: key ST resistance at 130.4.

Pivot: 130.4

Our preference: Short @ 130.3 with targets @ 129.75 & 129.35 in extension.

Alternative scenario: Above 130.4 look for further upside with 130.75 & 131.15 as targets.

Comment: the pair is posting a rebound but stands below its resistance.

GBP/JPY intraday: supported by a rising trend line.

Pivot: 151.95

Our preference: Long positions above 151.95 with targets @ 152.75 & 153.3 in extension.

Alternative scenario: Below 151.95 look for further downside with 151.45 & 151.15 as targets.

Comment: the pair remains supported by a rising trend line and is approaching its next resistance.

AUD/USD intraday: further upside.

Pivot: 0.9165

Our preference: Long positions above 0.9165 with targets @ 0.9255 & 0.9295 in extension.

Alternative scenario: Below 0.9165 look for further downside with 0.912 & 0.9075 as targets.

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

Cac 40 (Sep 13) intraday: consolidation.

Pivot: 4127

Our preference: SHORT positions below 4127 with 4087 & 4077 in sight.

Alternative scenario: The upside breakout of 4127 will open the way to 4145 & 4170.

Comment : the RSI is mixed to bearish.

Dax (Sep 13) intraday: consolidation.

Pivot: 8460

Our preference: SHORT positions below 8460 with 8330 & 8285 as next targets.

Alternative scenario: The upside penetration of 8460 will call for a rebound towards 8530 & 8565.

Comment: the RSI is mixed to bearish.