Free Morning Forex Trading signals – Sep 12, 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: 1.3270.

Our preference: LONG positions above 1.327 with 1.333 & 1.336 in sight.

Alternative scenario: The downside breakout of 1.327 will open the way to 1.323 & 1.319.

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

GBP/USD intraday: the upside prevails.

Pivot: 1.5770.

Our preference: LONG positions above 1.577 with 1.587 & 1.5915 in sight.

Alternative scenario: The downside penetration of 1.577 will call for a slide towards 1.5735 & 1.568.

Comment: the pair stands above its new support and remains on the upside, the RSI stands above its neutrality area.

USD/JPY intraday: the downside prevails.

Pivot: 99.75.

Our preference: SHORT positions below 99.75 with 99.3 & 99 in sight.

Alternative scenario: The upside penetration of 99.75 will call for 100 & 100.2.

Comment: the pair stands below its new resistance and remains on the downside.

EUR/JPY intraday: under pressure.

Pivot: 132.85

Our preference: Short positions below 132.85 with targets @ 132.2 & 131.8 in extension.

Alternative scenario: Above 132.85 look for further upside with 133.3 & 133.75 as targets.

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

GBP/JPY intraday: under pressure.

Pivot: 157.85

Our preference: Short positions below 157.85 with targets @ 157.15 & 156.5 in extension.

Alternative scenario: Above 157.85 look for further upside with 158.3 & 158.55 as targets.

Comment: the pair stands below its new resistance and remains under pressure.

AUD/USD intraday: break of a ST rising trendline support.

Pivot: 0.935

Our preference: Short positions below 0.935 with targets @ 0.9235 & 0.918 in extension.

Alternative scenario: Above 0.935 look for further upside with 0.939 & 0.943 as targets.

Comment: the pair has broken below a rising trend line and intraday technical indicator remain on the downside.

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

Pivot: 4045

Our preference: LONG positions above 4045 with 4150 & 4169 as next targets.

Alternative scenario: The downside penetration of 4045 will call for a slide towards 3990 & 3930.

Comment : the RSI is mixed with a bullish bias.

Dax (Sep 13) intraday: the bias remains bullish.

Pivot: 8428

Our preference: LONG positions above 8428 with 8560 & 8595 as next targets.

Alternative scenario: The downside breakout of 8428 will open the way to 8325 & 8270.

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