Free Morning Forex Trading signals – Sep 05, 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 1.3155 & 1.3135 as next targets.

Alternative scenario: The upside breakout of 1.3225 will open the way to 1.3255 & 1.3295.

Comment: the pair has broken below its support and remains under pressure.

GBP/USD intraday: the upside prevails.

Pivot: 1.5590.

Our preference: LONG positions above 1.559 with 1.565 & 1.5675 in sight.

Alternative scenario: The downside penetration of 1.559 will call for 1.555 & 1.5525.

Comment: the pair is facing a pull back on its support, the RSI is approaching its oversold area.

USD/JPY intraday: the upside prevails.

Pivot: 99.15.

Our preference: LONG positions above 99.15 with targets @ 100.45 & 100.8.

Alternative scenario: The downside penetration of 99.15 will call for a slide towards 98.75 & 98.45.

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

EUR/JPY intraday: further advance.

Pivot: 131.35

Our preference: Long @ 131.45 with targets @ 131.95 & 132.4 in extension.

Alternative scenario: Below 131.35 look for further downside with 130.9 & 130.5 as targets.

Comment: the pair is rebounding on its new support and should post further advance as the RSI is well directed.

GBP/JPY intraday: the bias remains bullish.

Pivot: 154.95

Our preference: Long positions above 154.95 with targets @ 156.05 & 156.7 in extension.

Alternative scenario: Below 154.95 look for further downside with 154.15 & 153.7 as targets.

Comment: the pair is supported by a rising trend line and is challenging its resistance.

AUD/USD intraday: supported by a rising trend line.

Pivot: 0.908

Our preference: Long positions above 0.908 with targets @ 0.919 & 0.923 in extension.

Alternative scenario: Below 0.908 look for further downside with 0.904 & 0.9005 as targets.

Comment: the pair is supported by a rising trend line.

Cac 40 (Sep 13) intraday: bullish bias above 3920

Pivot: 3920

Our preference: LONG positions above 3920 with 4015 & 4040 as next targets.

Alternative scenario: The downside breakout of 3920 will open the way to 3900 & 3880.

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

Dax (Sep 13) intraday: rebound expected.

Pivot: 8085

Our preference: LONG positions above 8085 with 8277 & 8380 as next targets.

Alternative scenario: The downside penetration of 8085 will call for a slide towards 8010 & 7980.

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