Free Morning Forex Trading signals – July 19, 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: key ST resistance at 1.3175

Pivot: 1.3175.

Our preference: SHORT positions below 1.3175 with targets @ 1.3045 & 1.2995.

Alternative scenario: The upside penetration of 1.3175 will call for a rebound towards 1.3205 & 1.325.

Comment: as long as the resistance at 1.3175 is not surpassed, the risk of the break below 1.3045 remains high.

GBP/USD intraday: supported by a rising trend line.

Pivot: 1.5150.

Our preference: LONG positions above 1.515 with 1.526 & 1.53 in sight.

Alternative scenario: The downside breakout of 1.515 will open the way to 1.5075 & 1.5025.

Comment: the pair is supported by a rising trend line.

USD/JPY intraday: intraday support around 99.9

Pivot: 99.90.

Our preference: LONG positions above 99.9 with 100.85 & 101.25 in sight.

Alternative scenario: The downside penetration of 99.9 will call for 99.2 & 98.9.

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

EUR/JPY intraday: supported by a rising trend line.

Pivot: 130.6

Our preference: Long positions above 130.6 with targets @ 132 & 132.5 in extension.

Alternative scenario: Below 130.6 look for further downside with 129.85 & 129.55 as targets.

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

GBP/JPY intraday: the bias remains bullish.

Pivot: 151.7

Our preference: Long positions above 151.7 with targets @ 153.4 & 153.75 in extension.

Alternative scenario: Below 151.7 look for further downside with 151.1 & 150.4 as targets.

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

AUD/USD intraday: bullish bias above 0.912.

Pivot: 0.912

Our preference: Long positions above 0.912 with targets @ 0.925 & 0.9305 in extension.

Alternative scenario: Below 0.912 look for further downside with 0.903 & 0.9 as targets.

Comment: the RSI calls for a new upleg.

Cac 40 (Jul 13) intraday: target 3965

Pivot: 3810

Our preference: LONG positions above 3810 with 3945 & 3965 in sight.

Alternative scenario: The downside penetration of 3810 will call for 3755 & 3708.

Comment : the RSI is above its neutrality area at 50%.

Dax (Sep 13) intraday: the upside prevails.

Pivot: 8215

Our preference: LONG positions above 8215 with targets @ 8357 & 8390.

Alternative scenario: The downside breakout of 8215 will open the way to 8130 & 8080.

Comment: the RSI is mixed.