Free Morning Forex Trading signals – June 28 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: continuation of the rebound.

Pivot: 1.3010.

Our preference: LONG positions above 1.301 with 1.308 & 1.3115 in sight.

Alternative scenario: The downside penetration of 1.301 will call for 1.298 & 1.295.

Comment: the pair has broken above the upper boundary of a bearish channel and remains on the upside.

GBP/USD intraday: key ST resistance at 1.53

Pivot: 1.5300.

Our preference: SHORT positions @ 1.5285 with 1.5185 & 1.5135 in sight.

Alternative scenario: The upside penetration of 1.53 will call for 1.5345 & 1.54.

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

USD/JPY intraday: continuation of the rebound.

Pivot: 98.00.

Our preference: LONG positions above 98 with 99.25 & 99.7 in sight.

Alternative scenario: The downside penetration of 98 will call for a slide towards 97.6 & 97.2.

Comment: the pair has broken above a declining trend line and is breaking above its previous high.

EUR/JPY intraday: the upside prevails.

Pivot: 127.95

Our preference: Long positions above 127.95 with targets @ 129.7 & 130.1 in extension.

Alternative scenario: Below 127.95 look for further downside with 127.3 & 126.9 as targets.

Comment: the pair has broken above a bearish channel upper boundary and should post further advance.

GBP/JPY intraday: the upside prevails.

Pivot: 150

Our preference: Long positions above 150 with targets @ 151.15 & 151.45 in extension.

Alternative scenario: Below 150 look for further downside with 149.5 & 149.15 as targets.

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

AUD/USD intraday: key ST resistance at 0.929.

Pivot: 0.929

Our preference: Short positions below 0.929 with targets @ 0.919 & 0.9145 in extension.

Alternative scenario: Above 0.929 look for further upside with 0.9345 & 0.938 as targets.

Comment: as long as 0.929 is resistance, look for choppy price action with a bearish bias.

Cac 40 (Jul 13) intraday: the upside prevails.

Pivot: 3700

Our preference: LONG positions above 3700 with targets @ 3780 & 3800.

Alternative scenario: The downside penetration of 3700 will call for a slide towards 3635 & 3570.

Comment : intraday technical indicators are mixed and call for caution.

Dax (Sep 13) intraday: bullish bias above 7918

Pivot: 7918

Our preference: LONG positions above 7918 with 8025 & 8080 in sight.

Alternative scenario: The downside breakout of 7918 will open the way to 7845 & 7660.

Comment: intraday technical indicators are mixed and call for caution.