Free Forex Signal 30/07/2012 Monday, July 30, 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.