Trading Signals April 20th 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails.

Pivot: 1.4330.

Most Likely Scenario: LONG positions @ 1.434 with 1.4415 & 1.445 as next targets.

Alternative scenario: The downside breakout of 1.433 will open the way to 1.43 & 1.425.

Comment: The RSI is supported by a rising trend line, the pair remains on the upside and is challenging its resistance.

Trend: ST Ltd Upside; MT Range


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

Pivot: 1.6300.

Most Likely Scenario: LONG positions @ 1.631 with targets @ 1.6385 & 1.643.

Alternative scenario: The downside penetration of 1.63 will call for a slide towards 1.6255 & 1.6225.

Comment: The pair remains supported by a rising trend line and should reach its next resistance.




USD/JPY intraday: rebound.

Pivot: 82.70.

Most Likely Scenario: LONG positions @ 82.75 with 83.25 & 83.5 in sight.

Alternative scenario: The downside penetration of 82.7 will call for a slide towards 82.35 & 82.2.

Comment: The pair has broken above its MT bearish channel upper boundary and should post further advance.



AUD/USD intraday: further advance.

Pivot: 1.0535

Most Likely Scenario: Long positions above 1.0535 with targets @ 1.06 & 1.0625 in extension.

Alternative scenario: Below 1.0535 look for further downside with 1.05 & 1.045 as targets.

Comment: The RSI is well directed