Free Morning Forex Trading signals – Sep 20, 2013

EUR/USD GBP/USD USD/JPY EUR/JPY GBP/JPY AUD/USD CAC 40 DAX
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: 1.3495.

Our preference: LONG positions above 1.3495 with 1.358 & 1.3615 in sight.

Alternative scenario: The downside penetration of 1.3495 will call for a slide towards 1.345 & 1.34.

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

GBP/USD intraday: consolidation.

Pivot: 1.6110.

Our preference: SHORT positions below 1.611 with 1.597 & 1.593 as next targets.

Alternative scenario: The upside penetration of 1.611 will call for 1.616 & 1.62.

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

USD/JPY intraday: the upside prevails.

Pivot: 98.90.

Our preference: LONG positions above 98.9 with 99.6 & 100 in sight.

Alternative scenario: The downside penetration of 98.9 will call for 98.6 & 98.15.

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

EUR/JPY intraday: the upside prevails.

Pivot: 133.8

Our preference: Long positions above 133.8 with targets @ 135 & 135.4 in extension.

Alternative scenario: Below 133.8 look for further downside with 133.15 & 132.6 as targets.

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

GBP/JPY intraday: the upside prevails.

Pivot: 158.5

Our preference: Long positions above 158.5 with targets @ 160 & 160.45 in extension.

Alternative scenario: Below 158.5 look for further downside with 158.1 & 157.45 as targets.

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

AUD/USD intraday: consolidation.

Pivot: 0.948

Our preference: Short positions below 0.948 with targets @ 0.941 & 0.9385 in extension.

Alternative scenario: Above 0.948 look for further upside with 0.952 & 0.955 as targets.

Comment: the RSI broke below a rising trend line.

Cac 40 (Sep 13) intraday: further upside.

Pivot: 4120

Our preference: LONG positions above 4120 with targets @ 4250 & 4290.

Alternative scenario: The downside penetration of 4120 will call for 4045 & 3990.

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

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

Pivot: 8510

Our preference: LONG positions above 8510 with 8775 & 8900 as next targets.

Alternative scenario: The downside penetration of 8510 will call for a slide towards 8325 & 8270.

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

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Note: We recommend not to use more than 5% of your equity in open trades at one time. Risk management is very important to minimize losses and maximize profits.
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