Free Morning Forex Trading signals – Aug 26, 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: 1.3330.

Our preference: LONG positions above 1.333 with 1.341 & 1.345 as next targets.

Alternative scenario: The downside penetration of 1.333 will call for 1.3295 & 1.327.

Comment: the pair stands above its support and remains on the upside, the RSI stands above its neutrality area.

GBP/USD intraday: the downside prevails.

Pivot: 1.5605.

Our preference: SHORT positions below 1.5605 with targets @ 1.5535 & 1.5515.

Alternative scenario: The upside breakout of 1.5605 will open the way to 1.5635 & 1.5665.

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

USD/JPY intraday: the bias remains bullish.

Pivot: 98.35.

Our preference: LONG positions @ 98.45 with 98.85 & 99.1 as next targets.

Alternative scenario: The downside penetration of 98.35 will call for a slide towards 98.1 & 97.75.

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

EUR/JPY intraday: the bias remains bullish.

Pivot: 131.55

Our preference: Long positions above 131.55 with targets @ 132.35 & 132.7 in extension.

Alternative scenario: Below 131.55 look for further downside with 131 & 130.35 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBP/JPY intraday: under pressure.

Pivot: 154

Our preference: Short positions below 154 with targets @ 153 & 152.55 in extension.

Alternative scenario: Above 154 look for further upside with 154.6 & 155.3 as targets.

Comment: the pair is breaking below its support and should face further weakness as the RSI is badly directed.

AUD/USD intraday: key ST resistance at 0.9055.

Pivot: 0.9055

Our preference: Short @ 0.9045 with targets @ 0.8995 & 0.896 in extension.

Alternative scenario: Above 0.9055 look for further upside with 0.91 & 0.913 as targets.

Comment: as long as 0.9055 is resistance, look for choppy price action with a bearish bias.

Cac 40 (Sep 13) intraday: rebound.

Pivot: 4005

Our preference: LONG positions above 4005 with 4090 & 4105 as next targets.

Alternative scenario: The downside breakout of 4005 will open the way to 3966 & 3925.

Comment : the RSI is mixed to bullish.

Dax (Sep 13) intraday: limited upside.

Pivot: 8245

Our preference: LONG positions above 8245 with targets @ 8460 & 8530.

Alternative scenario: The downside penetration of 8245 will call for 8215 & 8140.

Comment: prices aim the upper boundary of the trading-range set between 8245 & 8460.