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

Pivot: 1.3340.

Our preference: LONG positions above 1.334 with targets @ 1.343 & 1.348.

Alternative scenario: The downside penetration of 1.334 will call for a slide towards 1.33 & 1.3275.

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

GBP/USD intraday: key ST resistance at 1.568

Pivot: 1.5680.

Our preference: SHORT positions below 1.568 with targets @ 1.5565 & 1.5515.

Alternative scenario: The upside penetration of 1.568 will call for 1.572 & 1.575.

Comment: the pair stands below its resistanceand remains under pressure.

USD/JPY intraday: the bias remains bullish.

Pivot: 94.65.

Our preference: LONG positions above 94.65 with 95.85 & 96.5 in sight.

Alternative scenario: The downside breakout of 94.65 will open the way to 94.25 & 93.75.

Comment: the pair has struck against its resistance and is facing a pull back.

EUR/JPY intraday: bullish bias above 126.75.

Pivot: 126.75

Our preference: Long positions above 126.75 with targets @ 128.45 & 129.35 in extension.

Alternative scenario: Below 126.75 look for further downside with 126.05 & 125.7 as targets.

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

GBP/JPY intraday: bullish bias above 148.2.

Pivot: 148.2

Our preference: Long positions above 148.2 with targets @ 149.6 & 150.65 in extension.

Alternative scenario: Below 148.2 look for further downside with 147.05 & 146.3 as targets.

Comment: the RSI is mixed with a bullish bias.

AUD/USD intraday: under pressure.

Pivot: 0.957

Our preference: Short positions below 0.957 with targets @ 0.9435 & 0.94 in extension.

Alternative scenario: Above 0.957 look for further upside with 0.9665 & 0.9725 as targets.

Comment: a break below 0.9435 would trigger a drop towards 0.94.

Cac 40 (Jun 13) intraday: rebound expected.

Pivot: 3775

Our preference: LONG positions above 3775 with 3881 & 3932 as next targets.

Alternative scenario: The downside penetration of 3775 will call for 3730 & 3680.

Comment : An inverted head-and-shoulders is validated

Dax (Jun 13) intraday: continuation of the rebound.

Pivot: 8075

Our preference: LONG positions above 8075 with targets @ 8350 & 8389.

Alternative scenario: The downside penetration of 8075 will call for 7970 & 7900.

Comment: the RSI is bullish and calls for further advance.