Free Morning Forex Trading signals – June 13, 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: supported by a rising trend line.

Pivot: 1.3295.

Our preference: LONG positions @ 1.331 with 1.337 & 1.343 as next targets.

Alternative scenario: The downside penetration of 1.3295 will call for 1.326 & 1.3225.

Comment: the pair remains supported by a rising trend line and is challenging its previous high.

GBP/USD intraday: the upside prevails.

Pivot: 1.5600.

Our preference: LONG positions @ 1.561 with targets @ 1.57 & 1.574.

Alternative scenario: The downside penetration of 1.56 will call for 1.5565 & 1.552.

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

USD/JPY intraday: the downside prevails.

Pivot: 96.15.

Our preference: SHORT positions below 96.15 with targets @ 94.3 & 93.5.

Alternative scenario: The upside penetration of 96.15 will call for a rebound towards 97 & 97.75.

Comment: the pair has broken below its support and remains on the downside.

EUR/JPY intraday: the downside prevails.

Pivot: 128

Our preference: Short @ 127.8 with targets @ 126.1 & 125.35 in extension.

Alternative scenario: Above 128 look for further upside with 129 & 129.8 as targets.

Comment: the pair has broken below its support and remains on the downside.

GBP/JPY intraday: the downside prevails.

Pivot: 149.9

Our preference: Short @ 149.7 with targets @ 148.15 & 146.3 in extension.

Alternative scenario: Above 149.9 look for further upside with 150.65 & 151.45 as targets.

Comment: the pair remains on the downside and is challenging its previous low.

AUD/USD intraday: under pressure.

Pivot: 0.95

Our preference: Short positions below 0.95 with targets @ 0.941 & 0.936 in extension.

Alternative scenario: Above 0.95 look for further upside with 0.953 & 0.9565 as targets.

Comment: the RSI lacks upward momentum and intraday moving averages are turning down.

Cac 40 (Jun 13) intraday: under pressure.

Pivot: 3835

Our preference: SHORT positions below 3835 with 3705 & 3680 as next targets.

Alternative scenario: The upside breakout of 3835 will open the way to 3881 & 3908.

Comment : the RSI is badly directed.

Dax (Jun 13) intraday: under pressure.

Pivot: 8237

Our preference: SHORT positions below 8237 with 7960 & 7900 as next targets.

Alternative scenario: The upside breakout of 8237 will open the way to 8350 & 8389.

Comment: the RSI is badly directed.