Free Morning Forex Trading signals – May 15, 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: 1.2965.

Our preference: SHORT positions below 1.2965 with 1.29 & 1.287 in sight.

Alternative scenario: The upside penetration of 1.2965 will call for 1.2995 & 1.3025.

Comment: the pair stands below its new resistance and remains under pressure, the RSI stands below its neutrality area.

GBP/USD intraday: capped by a negative trend line.

Pivot: 1.5275.

Our preference: SHORT positions below 1.5275 with 1.519 & 1.516 in sight.

Alternative scenario: The upside breakout of 1.5275 will open the way to 1.531 & 1.533.

Comment: the pair is capped by a declining trend line and remains under pressure.

USD/JPY intraday: the upside prevails.

Pivot: 101.25.

Our preference: LONG positions above 101.25 with 102.45 & 102.85 in sight.

Alternative scenario: The downside penetration of 101.25 will call for a slide towards 100.4 & 99.65.

Comment: the pair remains on the upside and is challenging its previous high, the RSI is reversing up.

EUR/JPY intraday: the bias remains bullish.

Pivot: 131.5

Our preference: Long positions above 131.5 with targets @ 133 & 133.5 in extension.

Alternative scenario: Below 131.5 look for further downside with 130.75 & 130.25 as targets.

Comment: the pair stands above its new support and remains on the upside.

GBP/JPY intraday: key ST resistance at 155.95.

Pivot: 155.95

Our preference: Short positions below 155.95 with targets @ 154.95 & 154.1 in extension.

Alternative scenario: Above 155.95 look for further upside with 156.75 & 158 as targets.

Comment: the pair has struck against its resistance and remains under pressure, the RSI stands below its neutrality area.

AUD/USD intraday: the downside prevails.

Pivot: 0.996

Our preference: Short positions below 0.996 with targets @ 0.983 & 0.976 in extension.

Alternative scenario: Above 0.996 look for further upside with 1.003 & 1.0095 as targets.

Comment: the pair remains on the downside and should face further weakness.

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

Pivot: 3915

Our preference: LONG positions above 3915 with 4000 & 4010 in sight.

Alternative scenario: The downside penetration of 3915 will call for a slide towards 3880 & 3860.

Comment : the RSI advocates for further advance.

Dax (Jun 13) intraday: intraday support around 8210

Pivot: 8210

Our preference: LONG positions above 8210 with targets @ 8355 & 8420.

Alternative scenario: The downside penetration of 8210 will call for a slide towards 8135 & 8010.

Comment: Prices have validated a flag pattern.