Forex Trading Signals April 28th 2011 (Pre- EU Market Open)

EUR/USD intraday: further upside.Pivot: 1.4770.

Most Likely Scenario: LONG positions above 1.477 with 1.494 & 1.499 in sight.

Alternative scenario: The downside penetration of 1.477 will call for a slide towards 1.47 & 1.4655.

Comment: The immediate trend remains up and the momentum is strong.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: towards 1.68 Pivot: 1.6635.

Most Likely Scenario: LONG positions above 1.6635 with 1.675 & 1.68 in sight.

Alternative scenario: The downside breakout of 1.6635 will open the way to 1.6575 & 1.653.

Comment: The RSI is bullish and calls for further upside.

USD/JPY intraday: under pressure. Pivot: 82.25.

Most Likely Scenario: SHORT positions below 82.25 with 81.6 & 81.25 as next targets.

Alternative scenario: The upside penetration of 82.25 will call for 82.45 & 82.75.

Comment: The RSI is mixed to bearish.

AUD/USD intraday: further advance. Pivot: 1.084

Most Likely Scenario: Long positions above 1.084 with targets @ 1.0955 & 1.1 in extension.

Alternative scenario: Below 1.084 look for further downside with 1.078 & 1.0715 as targets.

Comment: The pair remains on the upside and should post further advance as the RSI is well directed.