Free Morning Forex Trading signals – Sep 10, 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: 1.3215.

Our preference: LONG positions above 1.3215 with targets @ 1.329 & 1.3315.

Alternative scenario: The downside penetration of 1.3215 will call for 1.319 & 1.3155.

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

GBP/USD intraday: the upside prevails.

Pivot: 1.5670.

Our preference: LONG positions above 1.567 with 1.5735 & 1.577 in sight.

Alternative scenario: The downside penetration of 1.567 will call for a slide towards 1.564 & 1.56.

Comment: the pair stands above its new support and is approaching its previous high.

USD/JPY intraday: the upside prevails.

Pivot: 99.30.

Our preference: LONG positions above 99.3 with 99.8 & 100.2 in sight.

Alternative scenario: The downside penetration of 99.3 will call for a slide towards 99 & 98.5.

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

EUR/JPY intraday: the upside prevails.

Pivot: 131.8

Our preference: Long @ 131.9 with targets @ 132.4 & 132.8 in extension.

Alternative scenario: Below 131.8 look for further downside with 131.35 & 130.8 as targets.

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

GBP/JPY intraday: the upside prevails.

Pivot: 155.5

Our preference: Long positions above 155.5 with targets @ 156.85 & 157.2 in extension.

Alternative scenario: Below 155.5 look for further downside with 155 & 154.15 as targets.

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

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

Pivot: 0.921

Our preference: Long @ 0.923 with targets @ 0.928 & 0.93 in extension.

Alternative scenario: Below 0.921 look for further downside with 0.918 & 0.911 as targets.

Comment: the pair and the RSI are supported by rising trend lines.

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

Pivot: 3990

Our preference: LONG positions above 3990 with targets @ 4080 & 4105.

Alternative scenario: The downside breakout of 3990 will open the way to 3930 & 3900.

Comment : the RSI advocates for further advance.

Dax (Sep 13) intraday: bullish bias above 8170

Pivot: 8170

Our preference: LONG positions above 8170 with 8380 & 8445 in sight.

Alternative scenario: The downside penetration of 8170 will call for a slide towards 8085 & 8010.

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