Free Afternoon Forex Trading signals – Mar 14, 2013

EUR/USD GBP/USD USD/CHF USD/CAD CRUDE OIL GOLD DOWJONES S&P 500
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: 1.2985

Our preference: Short positions below 1.2985 with targets @ 1.288 & 1.284 in extension.

Alternative scenario: Above 1.2985 look for further upside with 1.301 & 1.3045 as targets.

Comment: the pair is breaking below its previous low and should face further weakness.

GBP/USD intraday: bullish bias above 1.4885.

Pivot: 1.4885

Our preference: Long positions above 1.4885 with targets @ 1.496 & 1.498 in extension.

Alternative scenario: Below 1.4885 look for further downside with 1.485 & 1.483 as targets.

Comment: the pair is rebounding and is approaching its next resistance.

USD/CHF intraday: the upside prevails.

Pivot: 0.949

Our preference: Long positions above 0.949 with targets @ 0.9555 & 0.9565 in extension.

Alternative scenario: Below 0.949 look for further downside with 0.9475 & 0.945 as targets.

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

USD/CAD intraday: the bias remains bullish.

Pivot: 1.0245

Our preference: Long positions above 1.0245 with targets @ 1.0295 & 1.0315 in extension.

Alternative scenario: Below 1.0245 look for further downside with 1.023 & 1.021 as targets.

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

Crude Oil (Apr 13) intraday: the bias remains bullish.

Pivot: 91.60

Our preference: LONG positions above 91.6 with targets @ 93.5 & 94.45.

Alternative scenario: The downside breakout of 91.6 will open the way to 90.8 & 90.2.

Comment: intraday support around 91.6

GOLD (Spot) intraday: turning down.

Pivot: 1591.00

Our preference: SHORT positions below 1591 with targets @ 1575 & 1568.

Alternative scenario: The upside penetration of 1591 will call for 1599 & 1609.

Comment: the RSI has just struck against its neutrality area at 50% and is reversing down.

Dow Jones (Jun 13) intraday: the upside prevails.

Pivot: 14325

Our preference: LONG positions above 14325 with 14470 & 14520 in sight.

Alternative scenario: The downside penetration of 14325 will call for a slide towards 14270 & 14160.

Comment: technically, the RSI is above its neutrality area at 50.

S&P 500 (Jun 13) intraday: the bias remains bullish.

Pivot: 1540

Our preference: LONG positions above 1540 with 1560 & 1564 in sight.

Alternative scenario: The downside penetration of 1540 will call for 1531 & 1519.

Comment: technically, the RSI is above its neutrality area at 50.

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