Thursday, May 26, 2011

Forex Trading Signals May 27th 2011 (Pre- EU Market Open)

EUR/USD intraday: target 1.4345 Pivot: 1.4190.
Most Likely Scenario: LONG positions @ 1.42 with 1.43 & 1.4345 as next targets.
Alternative scenario: The downside penetration of 1.419 will call for a slide towards 1.4125 & 1.4065.
Comment: the break above 1.419 is a positive signal that has opened a path to 1.43.
Trend: ST Ltd Upside; MT Range

GBP/USD intraday: further advance. Pivot: 1.6380.
Most Likely Scenario: LONG positions above 1.638 with 1.646 & 1.6505 in sight.
Alternative scenario: The downside breakout of 1.638 will open the way to 1.633 & 1.629.
Comment: the immediate trend remains up and the momentum is strong.

USD/JPY intraday: towards 80.45 Pivot: 81.40.
Most Likely Scenario: SHORT positions below 81.4 with targets @ 80.7 & 80.45.
Alternative scenario: The upside breakout of 81.4 will open the way to 81.65 & 81.8.
Comment: the break below 81.4 is a negative signal that has opened a path to 80.7.

AUD/USD intraday: supported by a rising trend line. Pivot: 1.061
Most Likely Scenario: Long positions above 1.061 with targets @ 1.072 & 1.078 in extension.
Alternative scenario: Below 1.061 look for further downside with 1.057 & 1.055 as targets.
Comment: the RSI is bullish and calls for further advance.

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