Free Morning Forex Trading signals – June 20 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 downside prevails.

Pivot: 1.3300.

Our preference: SHORT positions below 1.33 with 1.323 & 1.3175 in sight.

Alternative scenario: The upside breakout of 1.33 will open the way to 1.3335 & 1.337.

Comment: the pair has broken below a rising trend line and remains under pressure.

GBP/USD intraday: the downside prevails.

Pivot: 1.5515.

Our preference: SHORT positions below 1.5515 with 1.5415 & 1.533 in sight.

Alternative scenario: The upside penetration of 1.5515 will call for 1.556 & 1.56.

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

USD/JPY intraday: the upside prevails.

Pivot: 95.85.

Our preference: LONG positions above 95.85 with targets @ 97.75 & 98.5.

Alternative scenario: The downside breakout of 95.85 will open the way to 95.25 & 94.75.

Comment: the pair stands above its new support and remains on the upside, the RSI is well directed.

EUR/JPY intraday: the bias remains bullish.

Pivot: 127.5

Our preference: Long positions above 127.5 with targets @ 129.35 & 129.95 in extension.

Alternative scenario: Below 127.5 look for further downside with 127 & 126.05 as targets.

Comment: the pair is breaking above its resistance as the RSI is well directed.

GBP/JPY intraday: further advance.

Pivot: 148.2

Our preference: Long positions above 148.2 with targets @ 150.65 & 151.35 in extension.

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

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

AUD/USD intraday: the downside prevails.

Pivot: 0.9435

Our preference: Short positions below 0.9435 with targets @ 0.919 & 0.9125 in extension.

Alternative scenario: Above 0.9435 look for further upside with 0.957 & 0.9665 as targets.

Comment: as long as 0.9435 is resistance, look for choppy price action with a bearish bias.

Cac 40 (Jun 13) intraday: consolidation.

Pivot: 3881

Our preference: SHORT positions below 3881 with 3730 & 3705 in sight.

Alternative scenario: The upside breakout of 3881 will open the way to 3932 & 3972.

Comment : the RSI is capped by a declining trend line.

Dax (Jun 13) intraday: consolidation.

Pivot: 8290

Our preference: SHORT positions below 8290 with 7970 & 7900 in sight.

Alternative scenario: The upside penetration of 8290 will call for a rebound towards 8350 & 8389.

Comment: the RSI is badly directed.