Free Forex Signal 30/07/2012

EUR/USD intraday: key resistance at 1.239. Pivot: 1.239 Our preference: Short positions below 1.239 with targets @ 1.224 & 1.217 in extension. Alternative scenario: Above 1.239 look for further upside with 1.244 & 1.247 as targets. Comment: the RSI is capped by a bearish trend line.

USD/CAD intraday: capped by a negative trend line. Pivot: 1.007 Our preference: Short positions below 1.007 with targets @ 1.002 & 0.9985 in extension. Alternative scenario: Above 1.007 look for further upside with 1.011 & 1.0165 as targets. Comment: technically, the RSI is below its neutrality area at 50.

USD/JPY intraday: under pressure. Pivot: 78.65 Our preference: Short positions below 78.65 with targets @ 78.05 & 77.9 in extension. Alternative scenario: Above 78.65 look for further upside with 78.8 & 78.9 as targets. Comment: the RSI is bearish and calls for further downside.

AUD/USD intraday: the upside prevails. Pivot: 1.042 Our preference: Long positions above 1.042 with targets @ 1.052 & 1.055 in extension. Alternative scenario: Below 1.042 look for further downside with 1.038 & 1.0345 as targets. Comment: the RSI calls for a new upleg.

GBP/USD intraday: bullish bias above 1.566. Pivot: 1.566 Our preference: Long positions above 1.566 with targets @ 1.5775 & 1.58 in extension. Alternative scenario: Below 1.566 look for further downside with 1.563 & 1.559 as targets. Comment: the next resistances are at 1.5775 and then at 1.58.

EUR/JPY intraday: under pressure. Pivot: 97.3 Our preference: Short positions below 97.3 with targets @ 95.6 & 95.2 in extension. Alternative scenario: Above 97.3 look for further upside with 97.7 & 98.1 as targets. Comment: technically, the RSI is below its neutrality area at 50.

Free Forex Signal 27/07/2012

EUR/USD intraday: bullish bias above 1.2215. Pivot: 1.2215 Our preference: Long positions above 1.2215 with targets @ 1.232 & 1.236 in extension. Alternative scenario: Below 1.2215 look for further downside with 1.217 & 1.214 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/CAD intraday: capped by a negative trend line. Pivot: 1.011 Our preference: Short positions below 1.011 with targets @ 1.006 & 1.002 in extension. Alternative scenario: Above 1.011 look for further upside with 1.0165 & 1.02 as targets. Comment: the RSI lacks upward momentum.

USD/JPY intraday: key ST resistance at 78.45. Pivot: 78.45 Our preference: Short positions below 78.45 with targets @ 77.9 & 77.75 in extension. Alternative scenario: Above 78.45 look for further upside with 78.65 & 78.8 as targets. Comment: the RSI is mixed with a bearish bias.

AUD/USD intraday: the upside prevails. Pivot: 1.038 Our preference: Long positions above 1.038 with targets @ 1.0445 & 1.049 in extension. Alternative scenario: Below 1.038 look for further downside with 1.03 & 1.025 as targets. Comment: the RSI is above its neutrality area at 50%.

GBP/USD intraday: bullish bias above 1.566. Pivot: 1.566 Our preference: Long positions above 1.566 with targets @ 1.5755 & 1.5775 in extension. Alternative scenario: Below 1.566 look for further downside with 1.563 & 1.559 as targets. Comment: a support base at 1.566 has formed and has allowed for a temporary stabilisation.

EUR/JPY intraday: further upside. Pivot: 95.2 Our preference: Long positions above 95.2 with targets @ 96.35 & 96.8 in extension. Alternative scenario: Below 95.2 look for further downside with 94.7 & 94.4 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Free Forex Signal 26/07/2012

EUR/USD intraday: the upside prevails. Pivot: 1.219 Our preference: Long positions above 1.219 with targets @ 1.232 & 1.236 in extension. Alternative scenario: Below 1.219 look for further downside with 1.216 & 1.211 as targets. Comment: the RSI is bullish and calls for further upside.

USD/CAD intraday: under pressure. Pivot: 1.016 Our preference: Short positions below 1.016 with targets @ 1.006 & 1.002 in extension. Alternative scenario: Above 1.016 look for further upside with 1.02 & 1.023 as targets. Comment: the RSI is badly directed.

USD/JPY intraday: key ST resistance at 78.45. Pivot: 78.45 Our preference: Short positions below 78.45 with targets @ 77.9 & 77.75 in extension. Alternative scenario: Above 78.45 look for further upside with 78.65 & 78.8 as targets. Comment: the RSI lacks upward momentum.

AUD/USD intraday: the upside prevails. Pivot: 1.03 Our preference: Long positions above 1.03 with targets @ 1.0445 & 1.049 in extension. Alternative scenario: Below 1.03 look for further downside with 1.025 & 1.018 as targets. Comment: the RSI is bullish and calls for further upside.

GBP/USD intraday: further upside. Pivot: 1.555 Our preference: Long positions above 1.555 with targets @ 1.568 & 1.5715 in extension. Alternative scenario: Below 1.555 look for further downside with 1.547 & 1.5455 as targets. Comment: the break above the resistance at 1.555 triggered an upward acceleration to 1.568.

EUR/JPY intraday: further upside. Pivot: 95.2 Our preference: Long positions above 95.2 with targets @ 96.1 & 96.55 in extension. Alternative scenario: Below 95.2 look for further downside with 94.6 & 94.05 as targets. Comment: the break above the resistance at 95.2 triggered an upward acceleration to 96.1.

Free Forex Signal 25/07/2012

EUR/USD intraday: continuation of the rebound. Pivot: 1.21 Our preference: Long positions above 1.21 with targets @ 1.218 & 1.2215 in extension. Alternative scenario: Below 1.21 look for further downside with 1.2035 & 1.2 as targets. Comment: the RSI calls for a rebound.

USD/CAD intraday: the downside prevails. Pivot: 1.02 Our preference: Short positions below 1.02 with targets @ 1.016 & 1.0125 in extension. Alternative scenario: Above 1.02 look for further upside with 1.023 & 1.025 as targets. Comment: the RSI is badly directed.

USD/JPY intraday: capped by a negative trend line. Pivot: 78.45 Our preference: Short positions below 78.45 with targets @ 77.9 & 77.75 in extension. Alternative scenario: Above 78.45 look for further upside with 78.65 & 78.8 as targets. Comment: the RSI lacks upward momentum.

AUD/USD intraday: under pressure. Pivot: 1.0285 Our preference: Short positions below 1.0285 with targets @ 1.018 & 1.0155 in extension. Alternative scenario: Above 1.0285 look for further upside with 1.032 & 1.0365 as targets. Comment: the RSI lacks upward momentum.

GBP/USD intraday: key ST resistance at 1.555. Pivot: 1.555 Our preference: Short positions below 1.555 with targets @ 1.548 & 1.5445 in extension. Alternative scenario: Above 1.555 look for further upside with 1.558 & 1.561 as targets. Comment: as long as the resistance at 1.555 is not surpassed, the risk of the break below 1.548 remains high.

EUR/JPY intraday: key ST resistance at 95.2. Pivot: 95.2 Our preference: Short positions below 95.2 with targets @ 94.05 & 93.5 in extension. Alternative scenario: Above 95.2 look for further upside with 96.1 & 96.55 as targets. Comment: as long as 95.2 is resistance, look for choppy price action with a bearish bias.

Free Forex Signal 24/07/2012

EUR/USD intraday: key resistance at 1.217. Pivot: 1.217 Our preference: Short positions below 1.217 with targets @ 1.2065 & 1.2035 in extension. Alternative scenario: Above 1.217 look for further upside with 1.22 & 1.223 as targets. Comment: as long as 1.217 is resistance, look for choppy price action with a bearish bias.

USD/CAD intraday: the bias remains bullish. Pivot: 1.015 Our preference: Long positions above 1.015 with targets @ 1.02 & 1.023 in extension. Alternative scenario: Below 1.015 look for further downside with 1.011 & 1.0085 as targets. Comment: the RSI lacks downward momentum.

USD/JPY intraday: intraday support around 78.1. Pivot: 78.1 Our preference: Long positions above 78.1 with targets @ 78.45 & 78.65 in extension. Alternative scenario: Below 78.1 look for further downside with 77.9 & 77.75 as targets. Comment: the RSI lacks downward momentum.

AUD/USD intraday: under pressure. Pivot: 1.033 Our preference: Short @ 1.0282 with targets @ 1.023 & 1.018 in extension. Alternative scenario: Above 1.033 look for further upside with 1.0365 & 1.04 as targets. Comment: the RSI lacks upward momentum.

GBP/USD intraday: key ST resistance at 1.558. Pivot: 1.558 Our preference: Short positions below 1.558 with targets @ 1.548 & 1.5445 in extension. Alternative scenario: Above 1.558 look for further upside with 1.563 & 1.567 as targets. Comment: as long as 1.558 is resistance, look for choppy price action with a bearish bias.

EUR/JPY intraday: the downside prevails. Pivot: 95.3 Our preference: Short positions below 95.3 with targets @ 94.2 & 93.5 in extension. Alternative scenario: Above 95.3 look for further upside with 96.1 & 96.85 as targets. Comment: as long as 95.3 is resistance, look for choppy price action with a bearish bias.