Free Morning Forex Trading signals – Sep 03, 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: 1.3225.

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

Alternative scenario: The upside penetration of 1.3225 will call for 1.3255 & 1.328.

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

GBP/USD intraday: bullish bias above 1.5525

Pivot: 1.5525.

Our preference: LONG positions above 1.5525 with targets @ 1.5605 & 1.5635.

Alternative scenario: The downside penetration of 1.5525 will call for a slide towards 1.55 & 1.546.

Comment: the pair stands above its support and remains on the upside as the RSI is supported by a rising trend line.

USD/JPY intraday: further advance.

Pivot: 99.05.

Our preference: LONG positions above 99.05 with targets @ 99.7 & 99.95.

Alternative scenario: The downside breakout of 99.05 will open the way to 98.75 & 98.45.

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

EUR/JPY intraday: the upside prevails.

Pivot: 130.5

Our preference: Long positions above 130.5 with targets @ 131.4 & 131.6 in extension.

Alternative scenario: Below 130.5 look for further downside with 130 & 129.55 as targets.

Comment: the pair remains on the upside and is approaching its resistance, the RSI is reversing up.

GBP/JPY intraday: the bias remains bullish.

Pivot: 153.7

Our preference: Long positions above 153.7 with targets @ 155 & 155.6 in extension.

Alternative scenario: Below 153.7 look for further downside with 153.15 & 152.65 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

AUD/USD intraday: further advance.

Pivot: 0.896

Our preference: Long positions above 0.896 with targets @ 0.9065 & 0.9095 in extension.

Alternative scenario: Below 0.896 look for further downside with 0.892 & 0.889 as targets.

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

Cac 40 (Sep 13) intraday: continuation of the rebound.

Pivot: 3920

Our preference: LONG positions above 3920 with 4040 & 4080 as next targets.

Alternative scenario: The downside penetration of 3920 will call for 3900 & 3880.

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

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

Pivot: 8085

Our preference: LONG positions above 8085 with 8320 & 8380 in sight.

Alternative scenario: The downside breakout of 8085 will open the way to 8010 & 7980.

Comment: a support base at 8085 has formed and has allowed for a temporary stabilisation.