Tuesday, April 26, 2011

Forex Trading Signals April 26th 2011 (Pre- EU Market Open)

EUR/USD intraday: key ST resistance at 1.457 Pivot: 1.4570.

Most Likely Scenario: SHORT positions @ 1.456 with 1.446 & 1.44 as next targets.
Alternative scenario: The upside breakout of 1.457 will open the way to 1.4625 & 1.465.
Comment: the break below 1.457 is a negative signal that has opened a path to 1.446.

Trend: ST Ltd Upside; MT Range


GBP/USD intraday: break of a ST rising trendline support. Pivot: 1.6550.

Most Likely Scenario: SHORT positions @ 1.654 with 1.6435 & 1.6385 as next targets.
Alternative scenario: The upside penetration of 1.655 will call for a rebound towards 1.66 & 1.663.
Comment: the pair has broken below a rising trend line and intraday technical indicators are reversing down.


USD/JPY intraday: capped by a negative trend line. Pivot: 82.30.

Most Likely Scenario: SHORT positions @ 82.2 with 81.5 & 81.15 in sight.
Alternative scenario: The upside penetration of 82.3 will call for 82.75 & 83.15.
Comment: the pair is capped by a declining trend line.


AUD/USD intraday: consolidation in place. Pivot: 1.0735

Most Likely Scenario: Short positions below 1.0735 with targets @ 1.065 & 1.061 in extension.
Alternative scenario: Above 1.0735 look for further upside with 1.076 & 1.0775 as targets.
Comment: the RSI is mixed with a bearish bias.


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