Free Morning Forex Trading signals – June 12, 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: 1.3250.

Our preference: LONG positions above 1.325 with 1.332 & 1.337 as next targets.

Alternative scenario: The downside breakout of 1.325 will open the way to 1.3225 & 1.318.

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

GBP/USD intraday: the upside prevails.

Pivot: 1.5565.

Our preference: LONG positions above 1.5565 with 1.569 & 1.574 as next targets.

Alternative scenario: The downside breakout of 1.5565 will open the way to 1.552 & 1.548.

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

USD/JPY intraday: under pressure.

Pivot: 97.30.

Our preference: SHORT positions below 97.3 with targets @ 95.5 & 94.95.

Alternative scenario: The upside breakout of 97.3 will open the way to 97.75 & 98.55.

Comment: the pair stands below its resistance and remains under pressure.

EUR/JPY intraday: under pressure.

Pivot: 129

Our preference: Short @ 128.8 with targets @ 127.05 & 126.1 in extension.

Alternative scenario: Above 129 look for further upside with 129.8 & 130.65 as targets.

Comment: the pair is posting a rebound but stands below its resistance, the RSI stands around its neutrality area.

GBP/JPY intraday: key ST resistance at 151.9.

Pivot: 151.9

Our preference: Short @ 151.7 with targets @ 149.15 & 148.15 in extension.

Alternative scenario: Above 151.9 look for further upside with 152.5 & 153.5 as targets.

Comment: the pair is rebounding but stands below its resistance, the RSI lacks upward momentum.

AUD/USD intraday: further upside.

Pivot: 0.94

Our preference: Long positions above 0.94 with targets @ 0.948 & 0.9535 in extension.

Alternative scenario: Below 0.94 look for further downside with 0.936 & 0.932 as targets.

Comment: the pair validated a Falling Wedge pattern calling for a rebound.

Cac 40 (Jun 13) intraday: rebound expected.

Pivot: 3765

Our preference: LONG positions above 3765 with 3820 & 3881 in sight.

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

Comment : the RSI is mixed to bullish.

Dax (Jun 13) intraday: caution.

Pivot: 8150

Our preference: LONG positions above 8150 with targets @ 8235 & 8350.

Alternative scenario: The downside breakout of 8150 will open the way to 8052 & 8000.

Comment: the RSI is mixed to bullish.