Free Morning Forex Trading signals – July 11 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: 1.3020.

Our preference: LONG positions above 1.302 with 1.3205 & 1.325 as next targets.

Alternative scenario: The downside penetration of 1.302 will call for 1.295 & 1.2915.

Comment: the pair remains on the upside and is challenging its previous high, the RSI is well directed.

GBP/USD intraday: the upside prevails.

Pivot: 1.5050.

Our preference: LONG positions above 1.505 with 1.52 & 1.5235 in sight.

Alternative scenario: The downside penetration of 1.505 will call for 1.5 & 1.491.

Comment: the pair has broken above its resistance and remains on the upside.

USD/JPY intraday: under pressure.

Pivot: 99.55.

Our preference: SHORT positions below 99.55 with 98.2 & 97.6 as next targets.

Alternative scenario: The upside breakout of 99.55 will open the way to 100 & 100.45.

Comment: the RSI is capped by a declining trend line, the pair remains on the downside and is challenging its new support.

EUR/JPY intraday: bullish bias above 128.45.

Pivot: 128.45

Our preference: Long @ 128.6 with targets @ 129.85 & 130.55 in extension.

Alternative scenario: Below 128.45 look for further downside with 127.95 & 127.45 as targets.

Comment: the pair has struck against its previous high and is facing a pull back ahead of further advance.

GBP/JPY intraday: intraday support around 148.6.

Pivot: 148.6

Our preference: Long positions above 148.6 with targets @ 150.55 & 151.15 in extension.

Alternative scenario: Below 148.6 look for further downside with 148.2 & 147.4 as targets.

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

AUD/USD intraday: the bias remains bullish.

Pivot: 0.92

Our preference: Long positions above 0.92 with targets @ 0.934 & 0.937 in extension.

Alternative scenario: Below 0.92 look for further downside with 0.915 & 0.909 as targets.

Comment: the pair has rebounded on its new support and should post further advance.

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

Pivot: 3810

Our preference: LONG positions above 3810 with 3910 & 3945 in sight.

Alternative scenario: The downside breakout of 3810 will open the way to 3751 & 3705.

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

Dax (Sep 13) intraday: bullish bias above 7975

Pivot: 7975

Our preference: LONG positions above 7975 with 8240 & 8255 as next targets.

Alternative scenario: The downside penetration of 7975 will call for 7800 & 7725.

Comment: the RSI advocates for further advance.