Free Morning Forex Trading signals – Sep 02, 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: 1.3225.

Our preference: SHORT positions below 1.3225 with 1.316 & 1.312 in sight.

Alternative scenario: The upside breakout of 1.3225 will open the way to 1.3255 & 1.328.

Comment: the pair is posting a rebound but stands below its resistance.

GBP/USD intraday: further advance.

Pivot: 1.5500.

Our preference: LONG positions above 1.55 with targets @ 1.558 & 1.5605.

Alternative scenario: The downside breakout of 1.55 will open the way to 1.546 & 1.5425.

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

USD/JPY intraday: further advance.

Pivot: 98.25.

Our preference: LONG positions above 98.25 with targets @ 98.75 & 98.95.

Alternative scenario: The downside breakout of 98.25 will open the way to 97.85 & 97.4.

Comment: the pair has validated a bullish flag and should post further advance.

EUR/JPY intraday: limited upside.

Pivot: 129.55

Our preference: Long positions above 129.55 with targets @ 130.55 & 130.85 in extension.

Alternative scenario: Below 129.55 look for further downside with 129.25 & 128.85 as targets.

Comment: the pair is on the upside and is approaching its resistance.

GBP/JPY intraday: the upside prevails.

Pivot: 152.65

Our preference: Long positions above 152.65 with targets @ 153.7 & 153.95 in extension.

Alternative scenario: Below 152.65 look for further downside with 152.2 & 151.9 as targets.

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

AUD/USD intraday: turning up.

Pivot: 0.892

Our preference: Long positions above 0.892 with targets @ 0.8985 & 0.901 in extension.

Alternative scenario: Below 0.892 look for further downside with 0.889 & 0.8865 as targets.

Comment: the pair has broken above an intraday declining trend line.

Cac 40 (Sep 13) intraday: caution.

Pivot: 3992

Our preference: SHORT positions below 3992 with 3925 & 3905 in sight.

Alternative scenario: The upside penetration of 3992 will call for a rebound towards 4040 & 4080.

Comment : Prices are holding below the previous top set around 3990.

Dax (Sep 13) intraday: the downside prevails.

Pivot: 8250

Our preference: SHORT positions below 8250 with 8055 & 8010 as next targets.

Alternative scenario: The upside breakout of 8250 will open the way to 8320 & 8380.

Comment: Prices are holding below a strong resistance set at 8250.