Free Morning Forex Trading signals – May 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: under pressure.

Pivot: 1.2940.

Our preference: SHORT positions below 1.294 with targets @ 1.2865 & 1.282.

Alternative scenario: The upside penetration of 1.294 will call for a rebound towards 1.2965 & 1.2995.

Comment: the pair is posting a rebound but stands below its resistance, the RSI stands below its neutrality area.

GBP/USD intraday: intraday support around 1.507

Pivot: 1.5070.

Our preference: LONG positions above 1.507 with 1.5155 & 1.5185 as next targets.

Alternative scenario: The downside penetration of 1.507 will call for 1.5035 & 1.501.

Comment: the pair is rebounding on its support as the RSI is reversing up.

USD/JPY intraday: the bias remains bullish.

Pivot: 101.15.

Our preference: LONG positions above 101.15 with 102.6 & 103 in sight.

Alternative scenario: The downside penetration of 101.15 will call for 100.55 & 100.2.

Comment: the pair has broken above its resistance and remains on the upside.

EUR/JPY intraday: the upside prevails.

Pivot: 130.85

Our preference: Long @ 131 with targets @ 131.95 & 132.4 in extension.

Alternative scenario: Below 130.85 look for further downside with 130.35 & 129.9 as targets.

Comment: the pair has broken above its resistance and remains on the upside.

GBP/JPY intraday: the upside prevails.

Pivot: 152.85

Our preference: Long positions above 152.85 with targets @ 154.15 & 154.8 in extension.

Alternative scenario: Below 152.85 look for further downside with 152.3 & 151.9 as targets.

Comment: the pair has broken above a declining trend line and remains on the upside, the RSI is well directed.

AUD/USD intraday: key ST resistance at 0.966.

Pivot: 0.966

Our preference: Short positions below 0.966 with targets @ 0.9595 & 0.9555 in extension.

Alternative scenario: Above 0.966 look for further upside with 0.9705 & 0.9735 as targets.

Comment: the 0.966 resistance area maintains a downside pressure and technical indicators lack upward momentum.

Cac 40 (Jun 13) intraday: rebound.

Pivot: 3920

Our preference: LONG positions above 3920 with targets @ 3992 & 4020.

Alternative scenario: The downside penetration of 3920 will call for 3893 & 3877.

Comment : the RSI is bullish and calls for further upside.

Dax (Jun 13) intraday: continuation of the rebound.

Pivot: 8335

Our preference: LONG positions above 8335 with 8435 & 8475 in sight.

Alternative scenario: The downside penetration of 8335 will call for a slide towards 8260 & 8210.

Comment: the RSI advocates for further advance.