Free Morning Forex Trading signals – June 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: 1.3210.

Our preference: LONG positions above 1.321 with targets @ 1.331 & 1.337.

Alternative scenario: The downside penetration of 1.321 will call for 1.318 & 1.314.

Comment: the pair has validated a bullish flag and remains on the upside.

GBP/USD intraday: the upside prevails.

Pivot: 1.5480.

Our preference: LONG positions above 1.548 with 1.562 & 1.569 in sight.

Alternative scenario: The downside breakout of 1.548 will open the way to 1.5425 & 1.537.

Comment: the pair has broken above a declining trend line and remains on the upside.

USD/JPY intraday: the upside prevails.

Pivot: 97.50.

Our preference: LONG positions above 97.5 with targets @ 99.5 & 100.4.

Alternative scenario: The downside breakout of 97.5 will open the way to 96.9 & 96.3.

Comment: the pair is rebounding on its support, the RSI lacks downward momentum.

EUR/JPY intraday: caution.

Pivot: 130

Our preference: Long positions above 130 with targets @ 131.4 & 132.15 in extension.

Alternative scenario: Below 130 look for further downside with 129.2 & 128.55 as targets.

Comment: the pair is pulling back and is challenging its support, caution.

GBP/JPY intraday: under pressure.

Pivot: 154.2

Our preference: Short positions below 154.2 with targets @ 151.95 & 151.35 in extension.

Alternative scenario: Above 154.2 look for further upside with 154.75 & 155.1 as targets.

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

AUD/USD intraday: key ST resistance at 0.9485.

Pivot: 0.9485

Our preference: Short positions below 0.9485 with targets @ 0.936 & 0.93 in extension.

Alternative scenario: Above 0.9485 look for further upside with 0.953 & 0.9575 as targets.

Comment: as long as 0.9485 is resistance, look for choppy price action with a bearish bias.

Cac 40 (Jun 13) intraday: target 3937

Pivot: 3765

Our preference: LONG positions above 3765 with 3908 & 3937 as next targets.

Alternative scenario: The downside penetration of 3765 will call for a slide towards 3705 & 3695.

Comment : Prices pushed above a declining trend line which now plays a support role. A bullish continuation pattern in flag is taking shape.

Dax (Jun 13) intraday: target 8419

Pivot: 8150

Our preference: LONG positions above 8150 with 8385 & 8419 as next targets.

Alternative scenario: The downside penetration of 8150 will call for a slide towards 8052 & 8000.

Comment: the RSI is mixed.