Free Morning Forex Trading signals – June 07, 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: 1.3140.

Our preference: LONG positions above 1.314 with 1.332 & 1.3375 in sight.

Alternative scenario: The downside breakout of 1.314 will open the way to 1.31 & 1.303.

Comment: the pair has broken above its resistance and should post further advance.

GBP/USD intraday: the upside prevails.

Pivot: 1.5515.

Our preference: LONG positions above 1.5515 with 1.569 & 1.577 in sight.

Alternative scenario: The downside penetration of 1.5515 will call for 1.5425 & 1.537.

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

USD/JPY intraday: the downside prevails.

Pivot: 98.05.

Our preference: SHORT positions below 98.05 with 95.85 & 94.9 as next targets.

Alternative scenario: The upside breakout of 98.05 will open the way to 98.8 & 99.6.

Comment: the pair has struck against its resistance and remains under pressure, the RSI is badly directed.

EUR/JPY intraday: the downside prevails.

Pivot: 129.4

Our preference: Short positions below 129.4 with targets @ 127.05 & 126.35 in extension.

Alternative scenario: Above 129.4 look for further upside with 130.7 & 131.35 as targets.

Comment: the pair stands below its resistance and remains on the downside, the RSI is badly directed.

GBP/JPY intraday: the downside prevails.

Pivot: 151.95

Our preference: Short positions below 151.95 with targets @ 149.55 & 149 in extension.

Alternative scenario: Above 151.95 look for further upside with 152.75 & 153.6 as targets.

Comment: the pair stands below its resistance and remains on the downside, the RSI is badly directed.

AUD/USD intraday: under pressure.

Pivot: 0.96

Our preference: Short positions below 0.96 with targets @ 0.947 & 0.943 in extension.

Alternative scenario: Above 0.96 look for further upside with 0.9685 & 0.974 as targets.

Comment: the RSI advocates for further decline.

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

Pivot: 3875

Our preference: SHORT positions below 3875 with targets @ 3785 & 3765.

Alternative scenario: The upside breakout of 3875 will open the way to 3937 & 3973.

Comment : Prices are capped by a declining trend line & the 50-period SMA.

Dax (Jun 13) intraday: the downside prevails.

Pivot: 8240

Our preference: SHORT positions below 8240 with 8052 & 8000 in sight.

Alternative scenario: The upside breakout of 8240 will open the way to 8345 & 8385.

Comment: the RSI is mixed to bearish.