TUESDAY, JUNE 25, 2013 FOREX SIGNALS

Tuesday, June 25, 2013

EUR/USD GBP/USD USD/CHF USD/JPY EUR/GBP GBP/JPY AUD/USD Gold

EUR/USD intraday: the downside prevails. Pivot: 1.3175 Our preference: Short positions below 1.3175 with targets @ 1.305 & 1.299 in extension. Alternative scenario: Above 1.3175 look for further upside with 1.323 & 1.325 as targets. Comment: as long as 1.3175 is resistance, look for choppy price action with a bearish bias.

GBP/USD intraday: further upside. Pivot: 1.534 Our preference: Long positions above 1.534 with targets @ 1.5485 & 1.553 in extension. Alternative scenario: Below 1.534 look for further downside with 1.531 & 1.527 as targets. Comment: the RSI is bullish and calls for further upside.

USD/CHF intraday: the bias remains bullish. Pivot: 0.929 Our preference: Long positions above 0.929 with targets @ 0.938 & 0.9415 in extension. Alternative scenario: Below 0.929 look for further downside with 0.924 & 0.92 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

USD/JPY intraday: under pressure. Pivot: 98.3 Our preference: Short positions below 98.3 with targets @ 96.8 & 96.2 in extension. Alternative scenario: Above 98.3 look for further upside with 98.7 & 99.25 as targets. Comment: the pair has broken below its support and remains under pressure, the RSI is badly directed.

EUR/GBP intraday: under pressure. Pivot: 0.8545 Our preference: Short positions below 0.8545 with targets @ 0.8475 & 0.8465 in extension. Alternative scenario: Above 0.8545 look for further upside with 0.8575 & 0.86 as targets. Comment: a break below 0.8475 would trigger a drop towards 0.8465.

GBP/JPY intraday: the downside prevails. Pivot: 151.2 Our preference: Short positions below 151.2 with targets @ 149.7 & 148.85 in extension. Alternative scenario: Above 151.2 look for further upside with 151.95 & 152.4 as targets. Comment: the RSI lacks upward momentum.

AUD/USD intraday: continuation of the rebound. Pivot: 0.9145 Our preference: Long positions above 0.9145 with targets @ 0.931 & 0.938 in extension. Alternative scenario: Below 0.9145 look for further downside with 0.905 & 0.9 as targets. Comment: the pair is has broken above its resistance, the RSI is well directed.

GOLD (Spot) intraday: the downside prevails.

Pivot: 1326.00 Our preference: SHORT positions below 1326 with 1270 & 1244 in sight. Alternative scenario: The upside breakout of 1326 will open the way to 1347 & 1375. Comment: a break below 1270 would trigger a drop towards 1244.