Free Morning Forex Trading signals – May 30, 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: 1.2915.

Our preference: LONG positions above 1.2915 with 1.299 & 1.3025 as next targets.

Alternative scenario: The downside penetration of 1.2915 will call for a slide towards 1.2875 & 1.284.

Comment: the pair has rebounded on its new support and is approaching its previous high, the RSI is well directed.

GBP/USD intraday: further upside.

Pivot: 1.5095.

Our preference: LONG positions above 1.5095 with 1.5185 & 1.522 as next targets.

Alternative scenario: The downside penetration of 1.5095 will call for a slide towards 1.507 & 1.504.

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

USD/JPY intraday: key ST resistance at 101.8

Pivot: 101.80.

Our preference: SHORT positions below 101.8 with 100.55 & 100.1 as next targets.

Alternative scenario: The upside breakout of 101.8 will open the way to 102.2 & 102.55.

Comment: the pair has struck against its resistance and remains under pressure as the RSI is badly directed.

EUR/JPY intraday: key ST resistance at 131.7.

Pivot: 131.7

Our preference: Short @ 131.5 with targets @ 130.35 & 129.9 in extension.

Alternative scenario: Above 131.7 look for further upside with 132.15 & 132.55 as targets.

Comment: the pair has struck against its resistance and remains under pressure, the RSI is badly directed.

GBP/JPY intraday: under pressure.

Pivot: 153.3

Our preference: Short positions below 153.3 with targets @ 152.3 & 151.75 in extension.

Alternative scenario: Above 153.3 look for further upside with 154 & 154.65 as targets.

Comment: the pair has struck against its resistance and remains under pressure.

AUD/USD intraday: bullish bias above 0.961.

Pivot: 0.961

Our preference: Long positions above 0.961 with targets @ 0.9695 & 0.9735 in extension.

Alternative scenario: Below 0.961 look for further downside with 0.958 & 0.953 as targets.

Comment: the pair is challenging its 0.9695 resistance and remains on the upside.

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

Pivot: 3920

Our preference: LONG positions above 3920 with 4022 & 4059 as next targets.

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

Comment : the RSI has just landed on a support around 30% and is reversing up.

Dax (Jun 13) intraday: consolidation.

Pivot: 8450

Our preference: SHORT positions below 8450 with 8265 & 8235 as next targets.

Alternative scenario: The upside penetration of 8450 will call for 8530 & 8560.

Comment: the RSI is badly directed.