Free Morning Forex Trading signals – July 05 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 downside prevails.

Pivot: 1.2980.

Our preference: SHORT positions @ 1.2965 with 1.2875 & 1.284 as next targets.

Alternative scenario: The upside penetration of 1.298 will call for a rebound towards 1.304 & 1.31.

Comment: the pair stands below its new resistance and remains on the downside, the RSI stands below its neutrality area.

GBP/USD intraday: the downside prevails.

Pivot: 1.5130.

Our preference: SHORT positions below 1.513 with 1.5 & 1.4955 in sight.

Alternative scenario: The upside penetration of 1.513 will call for 1.517 & 1.522.

Comment: the pair remains on the downside and is challenging its previous low.

USD/JPY intraday: bullish bias above 99.7

Pivot: 99.70.

Our preference: LONG positions above 99.7 with targets @ 100.5 & 100.8.

Alternative scenario: The downside penetration of 99.7 will call for a slide towards 99.45 & 99.1.

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

EUR/JPY intraday: under pressure.

Pivot: 129.85

Our preference: Short @ 129.7 with targets @ 128.9 & 128.6 in extension.

Alternative scenario: Above 129.85 look for further upside with 130.3 & 130.75 as targets.

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

GBP/JPY intraday: under pressure.

Pivot: 151.65

Our preference: Short positions below 151.65 with targets @ 150.4 & 150 in extension.

Alternative scenario: Above 151.65 look for further upside with 152.2 & 152.85 as targets.

Comment: the pair stands below its resistance and is shaping a bearish flag.

AUD/USD intraday: the bias remains bullish.

Pivot: 0.91

Our preference: Long positions above 0.91 with targets @ 0.9175 & 0.921 in extension.

Alternative scenario: Below 0.91 look for further downside with 0.907 & 0.903 as targets.

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

Cac 40 (Jul 13) intraday: the upside prevails.

Pivot: 3705

Our preference: LONG positions above 3705 with 3840 & 3875 in sight.

Alternative scenario: The downside penetration of 3705 will call for 3665 & 3570.

Comment : the RSI advocates for further upside.

Dax (Sep 13) intraday: the upside prevails.

Pivot: 7845

Our preference: LONG positions above 7845 with 8060 & 8085 in sight.

Alternative scenario: The downside penetration of 7845 will call for a slide towards 7725 & 7660.

Comment: the RSI is bullish and calls for further upside.