Free Morning Forex Trading signals – June 24 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: 1.3175.

Our preference: SHORT positions @ 1.316 with 1.307 & 1.305 in sight.

Alternative scenario: The upside breakout of 1.3175 will open the way to 1.323 & 1.325.

Comment: the pair is posting a slight rebound but stands below its resistance and remains under pressure.

GBP/USD intraday: intraday support around 1.536

Pivot: 1.5360.

Our preference: LONG positions above 1.536 with targets @ 1.5485 & 1.553.

Alternative scenario: The downside breakout of 1.536 will open the way to 1.531 & 1.527.

Comment: the pair is challenging its previous low, the RSI calls for caution.

USD/JPY intraday: further upside.

Pivot: 97.80.

Our preference: LONG positions above 97.8 with targets @ 99.25 & 99.8.

Alternative scenario: The downside penetration of 97.8 will call for a slide towards 97.3 & 96.8.

Comment: the pair is breaking above its previous high and should post further advance.

EUR/JPY intraday: further upside.

Pivot: 128.2

Our preference: Long @ 128.35 with targets @ 129.55 & 129.85 in extension.

Alternative scenario: Below 128.2 look for further downside with 127.75 & 127 as targets.

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

GBP/JPY intraday: further advance.

Pivot: 150.5

Our preference: Long @ 150.65 with targets @ 151.95 & 152.4 in extension.

Alternative scenario: Below 150.5 look for further downside with 149.7 & 148.85 as targets.

Comment: the pair is rebounding and is approaching its resistance, the RSI is reversing up.

AUD/USD intraday: under pressure.

Pivot: 0.931

Our preference: Short positions below 0.931 with targets @ 0.9125 & 0.905 in extension.

Alternative scenario: Above 0.931 look for further upside with 0.938 & 0.9435 as targets.

Comment: the RSI lacks upward momentum.

Cac 40 (Jul 13) intraday: under pressure.

Pivot: 3735

Our preference: SHORT positions below 3735 with 3600 & 3585 as next targets.

Alternative scenario: The upside penetration of 3735 will call for 3800 & 3875.

Comment : the immediate trend remains down and the momentum is strong..

Dax (Sep 13) intraday: the downside prevails.

Pivot: 7990

Our preference: SHORT positions below 7990 with 7680 & 7620 in sight.

Alternative scenario: The upside penetration of 7990 will call for a rebound towards 8080 & 8290.

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