Tradingg Signals - April 11th 2011 (Pre US Market Open)

EUR/USD intraday:

Pivot: 1.44

Most Likely Scenario: Long positions above 1.44 with targets @ 1.449 & 1.4515 in extension.

Alternative scenario: Below 1.44 look for further downside with 1.4345 & 1.43 as targets.

Comment: The pair stands above its new support and should post further advance.

GBP/USD intraday:

Pivot: 1.6315

Most Likely Scenario: Long positions above 1.6315 with targets @ 1.637 & 1.64 in extension.

Alternative scenario: Below 1.6315 look for further downside with 1.629 & 1.6255 as targets.

USD/JPY intraday: under pressure.

Pivot: 85.2

Most Likely Scenario: Short positions below 85.2 with targets @ 84.5 & 83.85 in extension.

Alternative scenario: Above 85.2 look for further upside with 85.5 & 85.9 as targets.

Comment: The pair is under pressure and is challenging its support.

AUD/USD intraday: target 1.063.

Pivot: 1.0515

Most Likely Scenario: Long positions above 1.0515 with targets @ 1.059 & 1.063 in extension.

Alternative scenario: Below 1.0515 look for further downside with 1.0485 & 1.042 as targets.

Comment: The RSI is supported by a bullish trend line.