Free Morning Forex Trading signals – Aug 28, 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 targets @ 1.341 & 1.345.

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

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

GBP/USD intraday: key ST resistance at 1.5555

Pivot: 1.5555.

Our preference: SHORT positions @ 1.5535 with 1.5475 & 1.5415 in sight.

Alternative scenario: The upside breakout of 1.5555 will open the way to 1.5605 & 1.5635.

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

USD/JPY intraday: the downside prevails.

Pivot: 97.65.

Our preference: SHORT positions below 97.65 with targets @ 96.85 & 96.5.

Alternative scenario: The upside penetration of 97.65 will call for a rebound towards 98.05 & 98.35.

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

EUR/JPY intraday: the downside prevails.

Pivot: 130.35

Our preference: Short @ 130.2 with targets @ 129.4 & 129.15 in extension.

Alternative scenario: Above 130.35 look for further upside with 130.85 & 131.25 as targets.

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

GBP/JPY intraday: under pressure.

Pivot: 151.45

Our preference: Short @ 151.2 with targets @ 150.4 & 149.85 in extension.

Alternative scenario: Above 151.45 look for further upside with 151.95 & 152.6 as targets.

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

AUD/USD intraday: under pressure.

Pivot: 0.8965

Our preference: Short positions below 0.8965 with targets @ 0.888 & 0.8845 in extension.

Alternative scenario: Above 0.8965 look for further upside with 0.901 & 0.904 as targets.

Comment: the pair is breaking below its support and should face further weakness.

Cac 40 (Sep 13) intraday: under pressure.

Pivot: 4013

Our preference: SHORT positions below 4013 with 3925 & 3905 in sight.

Alternative scenario: The upside penetration of 4013 will call for a rebound towards 4080 & 4125.

Comment : technically, the RSI is below its neutrality area at 50.

Dax (Sep 13) intraday: under pressure.

Pivot: 8285

Our preference: SHORT positions below 8285 with targets @ 8140 & 8090.

Alternative scenario: The upside penetration of 8285 will call for 8320 & 8380.

Comment: technically, the RSI is below its neutrality area at 50.