Wednesday, April 20, 2011

Forex Trading Signals April 21st 2011 (Pre- EU Market Open)

EUR/USD intraday Pivot: 1.4500.

Most Likely Scenario: LONG positions @ 1.451 with 1.459 & 1.463 as next targets.

Alternative scenario: The downside penetration of 1.45 will call for 1.4445 & 1.4415.

Comment: The pair has rebounded on its support and remains on the upside.

Trend: ST Ltd Upside; MT Range


GBP/USD intraday: supported by a rising trend line.

Pivot: 1.6385.

Most Likely Scenario: LONG positions @ 1.6395 with targets @ 1.6475 & 1.65.

Alternative scenario: The downside penetration of 1.6385 will call for a slide towards 1.635 & 1.631.

Comment: The pair remains within a bullish channel and is challenging its previous high.


USD/JPY intraday: under pressure.

Pivot: 82.60.

Most Likely Scenario: SHORT positions @ 82.55 with 82 & 81.75 in sight.

Alternative scenario: The upside penetration of 82.6 will call for 82.8 & 83.15.


AUD/USD intraday

Pivot: 1.0695

Most Likely Scenario: Long positions above 1.0695 with targets @ 1.08 & 1.0825 in extension.

Alternative scenario: Below 1.0695 look for further downside with 1.065 & 1.0575 as targets.

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