Tuesday, April 12, 2011

Forex Trading Signals April 13th 2011 (Pre-EU Market Open)

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

Pivot: 1.4435.

Most Likely Scenario: LONG positions @ 1.4445 with targets @ 1.452 & 1.455.

Alternative scenario: The downside penetration of 1.4435 will call for a slide towards 1.438 & 1.4345.

Comment: The pair remains supported by a MT rising trend line and should post a rebound on its new support.


GBP/USD intraday: rebound expected.

Pivot: 1.6225.

Most Likely Scenario: LONG positions @ 1.6235 with 1.632 & 1.6365 as next targets.

Alternative scenario: The downside penetration of 1.6225 will call for 1.6175 & 1.6135.


USD/JPY intraday: under pressure.

Pivot: 84.50.

Most Likely Scenario: SHORT positions @ 84.45 with targets @ 83.5 & 83.2.

Alternative scenario: The upside penetration of 84.5 will call for a rebound towards 84.75 & 85.15.

Comment: The pair is posting a rebound but stands below its resistance.



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

Pivot: 1.043

Most Likely Scenario: Long positions above 1.043 with targets @ 1.052 & 1.056 in extension.

Alternative scenario: Below 1.043 look for further downside with 1.039 & 1.035 as targets.

Comment: The pair remains above a rising trend line.

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