Free Morning Forex Trading signals – Mar 08, 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 upside prevails.

Pivot: 1.3060.

Our preference: LONG positions @ 1.307 with targets @ 1.312 & 1.3155.

Alternative scenario: The downside penetration of 1.306 will call for 1.303 & 1.298.

Comment: the pair remains on the upside but should face a pull back on its support ahead of further advance, the RSI stands above its neutrality area.

GBP/USD intraday: bullish bias above 1.496

Pivot: 1.4960.

Our preference: LONG positions above 1.496 with 1.503 & 1.5075 as next targets.

Alternative scenario: The downside breakout of 1.496 will open the way to 1.49 & 1.4865.

Comment: the pair is pulling back on its support, the RSI stands above its oversold area and is turning up.

PREVIOUS NEXT

USD/JPY intraday: the upside prevails.

Pivot: 94.80.

Our preference: LONG positions above 94.8 with 95.5 & 95.75 in sight.

Alternative scenario: The downside penetration of 94.8 will call for 94.35 & 94.1.

Comment: the pair remains on the upside, a pull back should not be ruled out ahead of further advance as the RSI is overbought.

PREVIOUS NEXT

EUR/JPY intraday: the upside prevails.

Pivot: 124.15

Our preference: Long @ 124.25 with targets @ 125.2 & 125.5 in extension.

Alternative scenario: Below 124.15 look for further downside with 123.5 & 122.85 as targets.

Comment: the pair remains on the upside, the RSI is well directed but is also overbought, a pull back should therefore not be ruled out ahead of further advance.

PREVIOUS NEXT

GBP/JPY intraday: further advance.

Pivot: 142.15

Our preference: Long @ 142.35 with targets @ 143.5 & 144 in extension.

Alternative scenario: Below 142.15 look for further downside with 141.45 & 140.5 as targets.

Comment: the pair stands above its new support and should post further advance as the RSI stands above its neutrality area and is turning up.

PREVIOUS NEXT

AUD/USD intraday: bullish bias above 1.021.

Pivot: 1.021

Our preference: Long positions above 1.021 with targets @ 1.027 & 1.03 in extension.

Alternative scenario: Below 1.021 look for further downside with 1.0185 & 1.0155 as targets.

Comment: a support base at 1.021 has formed and has allowed for a temporary stabilisation.

PREVIOUS NEXT

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

Pivot: 3730

Our preference: LONG positions above 3730 with 3812 & 3880 as next targets.

Alternative scenario: The downside penetration of 3730 will call for a slide towards 3702 & 3665.

Comment : Prices are still supported by an ascending trend line

PREVIOUS NEXT

Dax (Mar 13) intraday: the upside prevails.

Pivot: 7775

Our preference: LONG positions above 7775 with 7980 & 8050 in sight.

Alternative scenario: The downside penetration of 7775 will call for 7626 & 7560.

Comment: the RSI is around its neutrality area at 50%.