Thursday, April 28, 2011

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

EUR/USD intraday: further advance. Pivot: 1.477
Most Likely Scenario: Long positions above 1.477 with targets @ 1.494 & 1.499 in extension.
Alternative scenario: Below 1.477 look for further downside with 1.47 & 1.4655 as targets.
Comment: The pair stands above its new support and remains on the upside.

GBP/USD intraday: the upside prevails. Pivot: 1.6635
Most Likely Scenario: Long positions above 1.6635 with targets @ 1.675 & 1.68 in extension.
Alternative scenario: Below 1.6635 look for further downside with 1.6575 & 1.653 as targets.
Comment: The pair is pulling back on its support ahead of a rebound.

USD/JPY intraday: under pressure. Pivot: 82.1
Most Likely Scenario: Short positions below 82.1 with targets @ 81.5 & 81.25 in extension.
Alternative scenario: Above 82.1 look for further upside with 82.45 & 82.75 as targets.
Comment: The RSI is badly directed, the pair is under pressure and is challenging its new support.

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.

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