SIGNAL FOR TODAY THURSDAY 20-06-2013

EUR/USD intraday: the downside prevails.

Pivot: 1.337 Our preference: Short positions below 1.337 with targets @ 1.323 & 1.3175 in extension. Alternative scenario: Above 1.337 look for further upside with 1.3415 & 1.348 as targets. Comment: the RSI has broken down its 30 level.

GBP/USD intraday: the downside prevails. Pivot: 1.56 Our preference: Short positions below 1.56 with targets @ 1.5415 & 1.533 in extension. Alternative scenario: Above 1.56 look for further upside with 1.568 & 1.575 as targets. Comment: the RSI has broken down its 30 level.

USD/CHF intraday: further advance.

USD/JPY intraday: the upside prevails. Pivot: 95.25 Our preference: Long positions above 95.25 with targets @ 97.75 & 98.5 in extension. Alternative scenario: Below 95.25 look for further downside with 94.25 & 93.75 as targets. Comment: the RSI is bullish and calls for further advance.

EUR/GBP intraday: further advance. Pivot: 0.854 Our preference: Long positions above 0.854 with targets @ 0.86 & 0.8615 in extension. Alternative scenario: Below 0.854 look for further downside with 0.852 & 0.8495 as targets. Comment: the pair stands above its new support and remains on the upside.

GBP/JPY intraday: bullish bias above 148.2. Pivot: 148.2 Our preference: Long positions above 148.2 with targets @ 150.65 & 151.35 in extension. Alternative scenario: Below 148.2 look for further downside with 147.05 & 146.3 as targets. Comment: technically, the RSI is above its neutrality area at 50.

AUD/USD intraday: the downside prevails. Pivot: 0.9435 Our preference: Short positions below 0.9435 with targets @ 0.919 & 0.9125 in extension. Alternative scenario: Above 0.9435 look for further upside with 0.957 & 0.9665 as targets. Comment: the RSI has broken down its 30 level.

GOLD (Spot) intraday: the downside prevails.  Pivot: 1378.00 Our preference: SHORT positions below 1378 with targets @ 1338 & 1322. Alternative scenario: The upside penetration of 1378 will call for 1394 & 1402. Comment: the RSI has broken down its 30 level.

Risk Warning

Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.
There is considerable exposure to risk in any foreign exchange transaction. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of a currency.
Moreover, the leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin call within the time prescribed, your position will be liquidated and you will be responsible for any resulting losses. Investors may lower their exposure to risk by employing risk-reducing strategies such as 'stop-loss' or 'limit' orders.

Risk Warning

Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.
There is considerable exposure to risk in any foreign exchange transaction. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of a currency.
Moreover, the leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin call within the time prescribed, your position will be liquidated and you will be responsible for any resulting losses. Investors may lower their exposure to risk by employing risk-reducing strategies such as 'stop-loss' or 'limit' orders.