Free Morning Forex Trading signals – Feb 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: 1.3065.

Our preference: LONG positions @ 1.3075 with 1.3165 & 1.3205 in sight.

Alternative scenario: The downside penetration of 1.3065 will call for 1.303 & 1.301.

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

GBP/USD intraday: further advance.

Pivot: 1.5110.

Our preference: LONG positions @ 1.512 with 1.522 & 1.528 in sight.

Alternative scenario: The downside penetration of 1.511 will call for 1.507 & 1.504.

Comment: the pair has rebounded on its new support and remains on the upside, the RSI is well directed and stands above its neutrality area.

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USD/JPY intraday: the bias remains bullish.

Pivot: 91.80.

Our preference: LONG positions @ 91.9 with 92.75 & 93.1 as next targets.

Alternative scenario: The downside penetration of 91.8 will call for a slide towards 91.55 & 91.1.

Comment: the pair has broken above a declining trend line and remains on the upside, the RSI is well directed.

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EUR/JPY intraday: the upside prevails.

Pivot: 120.4

Our preference: Long @ 120.5 with targets @ 122.25 & 123.1 in extension.

Alternative scenario: Below 120.4 look for further downside with 119.6 & 119.1 as targets.

Comment: the pair has broken above a trioangle upper boundary and remains on the upside, the RSI is well directed and stands above its neutrality area.

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GBP/JPY intraday: further advance.

Pivot: 139

Our preference: Long positions above 139 with targets @ 140.5 & 141.25 in extension.

Alternative scenario: Below 139 look for further downside with 138.4 & 137.7 as targets.

Comment: the pair has broken above a declining trend line and is challenging its resistance, the RSI remains well directed, standing above its neutrality area.