Free Afternoon Forex Trading signals – Mar 18, 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: the downside prevails.

Pivot: 1.298

Our preference: Short positions below 1.298 with targets @ 1.292 & 1.2875 in extension.

Alternative scenario: Above 1.298 look for further upside with 1.304 & 1.3105 as targets.

Comment: the pair is rebounding from its bearish gap but stands below its new resistance.

GBP/USD intraday: intraday support around 1.5065.

Pivot: 1.5065

Our preference: Long positions above 1.5065 with targets @ 1.5145 & 1.518 in extension.

Alternative scenario: Below 1.5065 look for further downside with 1.5045 & 1.5005 as targets.

Comment: the pair is facing a slight pull back but remains on the upside.

USD/CHF intraday: key ST resistance at 0.9475.

Pivot: 0.9475

Our preference: Short positions below 0.9475 with targets @ 0.9375 & 0.9345 in extension.

Alternative scenario: Above 0.9475 look for further upside with 0.95 & 0.953 as targets.

Comment: the pair stands below its resistance and remains under pressure as the RSI is turning down.

USD/CAD intraday: the upside prevails.

Pivot: 1.021

Our preference: Long positions above 1.021 with targets @ 1.025 & 1.0275 in extension.

Alternative scenario: Below 1.021 look for further downside with 1.018 & 1.0155 as targets.

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

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

Pivot: 91.90

Our preference: LONG positions above 91.9 with 93.4 & 93.8 as next targets.

Alternative scenario: The downside penetration of 91.9 will call for a slide towards 90.8 & 90.2.

Comment: intraday support around 91.9

GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1590.00

Our preference: LONG positions above 1590 with 1609 & 1619 in sight.

Alternative scenario: The downside penetration of 1590 will call for a slide towards 1584 & 1576.

Comment: the RSI is supported by a rising trend line. The 50 moving average is heading up. Further gains are more likely.

Dow Jones (Jun 13) intraday: key ST resistance at 14400

Pivot: 14400

Our preference: SHORT positions below 14400 with 14270 & 14200 as next targets.

Alternative scenario: The upside breakout of 14400 will open the way to 14475 & 14520.

Comment: the RSI is capped by a bearish trend line.

S&P 500 (Jun 13) intraday: the downside prevails.

Pivot: 1549

Our preference: SHORT positions below 1549 with 1529 & 1524 in sight.

Alternative scenario: The upside penetration of 1549 will call for 1559 & 1564.

Comment: the RSI is mixed with a bearish bias.

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