Free Morning Forex Trading signals – Aug 30, 2013

EUR/USD GBP/USD USD/JPY EUR/JPY GBP/JPY AUD/USD CAC 40 DAX
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: 1.3280.

Our preference: SHORT positions below 1.328 with targets @ 1.321 & 1.3185.

Alternative scenario: The upside penetration of 1.328 will call for a rebound towards 1.3305 & 1.334.

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

GBP/USD intraday: the upside prevails.

Pivot: 1.5470.

Our preference: LONG positions @ 1.549 with targets @ 1.5555 & 1.5605.

Alternative scenario: The downside penetration of 1.547 will call for 1.5425 & 1.5375.

Comment: the pair stands above its support and remains on the upside.

USD/JPY intraday: the bias remains bullish.

Pivot: 97.75.

Our preference: LONG positions above 97.75 with targets @ 98.5 & 98.75.

Alternative scenario: The downside penetration of 97.75 will call for a slide towards 97.4 & 97.2.

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

EUR/JPY intraday: limited upside.

Pivot: 129.55

Our preference: Long positions above 129.55 with targets @ 130.55 & 130.85 in extension.

Alternative scenario: Below 129.55 look for further downside with 129.15 & 128.85 as targets.

Comment: the pair stands above its support and remains within a trading range.

GBP/JPY intraday: the bias remains bullish.

Pivot: 151.9

Our preference: Long @ 152.05 with targets @ 152.6 & 153.2 in extension.

Alternative scenario: Below 151.9 look for further downside with 151.45 & 151.05 as targets.

Comment: the pair stands above its new support and remains on the upside.

AUD/USD intraday: under pressure.

Pivot: 0.8985

Our preference: Short positions below 0.8985 with targets @ 0.891 & 0.8895 in extension.

Alternative scenario: Above 0.8985 look for further upside with 0.901 & 0.904 as targets.

Comment: the upward potential is likely to be limited by the resistance at 0.8985.

Cac 40 (Sep 13) intraday: the downside prevails.

Pivot: 4013

Our preference: SHORT positions below 4013 with targets @ 3952 & 3935.

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

Comment : Prices are holding below a strong resistance area set around 4010.

Dax (Sep 13) intraday: the downside prevails.

Pivot: 8250

Our preference: SHORT positions below 8250 with targets @ 8140 & 8095.

Alternative scenario: The upside penetration of 8250 will call for a rebound towards 8320 & 8380.

Comment: Prices are holding below a strong resistance set at 8250.

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Note: We recommend not to use more than 5% of your equity in open trades at one time. Risk management is very important to minimize losses and maximize profits.
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