Free Morning Forex Trading signals – Sep 23, 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 bias remains bullish.

Pivot: 1.3495.

Our preference: LONG positions above 1.3495 with 1.358 & 1.3615 as next targets.

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

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

GBP/USD intraday: under pressure.

Pivot: 1.6065.

Our preference: SHORT positions below 1.6065 with targets @ 1.597 & 1.593.

Alternative scenario: The upside penetration of 1.6065 will call for a rebound towards 1.611 & 1.616.

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

USD/JPY intraday: bullish bias above 98.9

Pivot: 98.90.

Our preference: LONG positions above 98.9 with 99.6 & 100 as next targets.

Alternative scenario: The downside breakout of 98.9 will open the way to 98.6 & 98.15.

Comment: the pair is pulling back on its support ahead of a rebound.

EUR/JPY intraday: bullish bias above 133.8.

Pivot: 133.8

Our preference: Long @ 134 with targets @ 134.45 & 135 in extension.

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

Comment: the pair is facing a pull back on its support (overlap) ahead of a rebound.

GBP/JPY intraday: rebound expected.

Pivot: 158.5

Our preference: Long @ 158.7 with targets @ 159.45 & 160 in extension.

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

Comment: the pair is facing a pull back on its support ahead of a rebound.

AUD/USD intraday: key ST resistance at 0.9435.

Pivot: 0.9435

Our preference: Short positions below 0.9435 with targets @ 0.937 & 0.9335 in extension.

Alternative scenario: Above 0.9435 look for further upside with 0.948 & 0.952 as targets.

Comment: the upward potential is likely to be limited by the resistance at 0.9435.

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

Pivot: 4140

Our preference: LONG positions above 4140 with 4230 & 4270 in sight.

Alternative scenario: The downside penetration of 4140 will call for a slide towards 4090 & 4045.

Comment : the RSI is negative but supported by a strong support.

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

Pivot: 8520

Our preference: LONG positions above 8520 with 8779 & 8840 in sight.

Alternative scenario: The downside penetration of 8520 will call for a slide towards 8460 & 8370.

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