Forex Trading Signals July 1st 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails.  Pivot: 1.4450.
Most Likely Scenario: LONG positions @ 1.446 with 1.455 & 1.46 in sight.
Alternative scenario: The downside breakout of 1.445 will open the way to 1.4375 & 1.4325.
Comment: The RSI is supported by a rising trend line, the pair is rebounding on its bullish channel lower boundary and should post further advance.
Trend: ST Ltd Upside; MT Range


GBP/USD intraday: continuation of the rebound.  Pivot: 1.6000.
Most Likely Scenario: LONG positions above 1.6 with targets @ 1.6125 & 1.617.
Alternative scenario: The downside penetration of 1.6 will call for 1.595 & 1.591.
Comment: The pair is rebounding on its support as the RSI is turning up.


USD/JPY intraday: the upside prevails.  Pivot: 80.40.
Most Likely Scenario: LONG positions above 80.4 with 80.9 & 81 in sight.
Alternative scenario: The downside penetration of 80.4 will call for 80.25 & 80.1.
Comment: The pair is challenging its resistance and should face a pull back ahead of further advance.


AUD/USD intraday: the upside prevails.  Pivot: 1.0665
Most Likely Scenario: Long positions above 1.0665 with targets @ 1.0755 & 1.078 in extension.
Alternative scenario: Below 1.0665 look for further downside with 1.0615 & 1.0575 as targets.
Comment: The pair should post a rebound on its support as the RSI is turning up.


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Forex Trading Signals June 30th 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails. Pivot: 1.4425.
Most Likely Scenario: LONG positions above 1.4425 with 1.4525 & 1.455 as next targets.
Alternative scenario: The downside penetration of 1.4425 will call for 1.4375 & 1.4325.
Comment: The RSI is supported by a rising trend line, the pair has broken above its previous high and remains on the upside.
Trend: ST Ltd Upside; MT Range


GBP/USD intraday: further advance. Pivot: 1.6030.
Most Likely Scenario: LONG positions above 1.603 with 1.6125 & 1.615 as next targets.
Alternative scenario: The downside penetration of 1.603 will call for a slide towards 1.6 & 1.595.
Comment: The pair remains on the upside and is approaching its next resistance.


USD/JPY intraday: key ST resistance at 80.7 Pivot: 80.70.
Most Likely Scenario: SHORT positions below 80.7 with 80.25 & 80.1 as next targets.
Alternative scenario: The upside breakout of 80.7 will open the way to 81 & 81.3.
Comment: The pair has broken below its support and remains under pressure as the RSI is badly directed.


AUD/USD intraday: watch 1.078. Pivot: 1.065
Most Likely Scenario: Long positions above 1.065 with targets @ 1.0755 & 1.078 in extension.
Alternative scenario: Below 1.065 look for further downside with 1.06 & 1.055 as targets.
Comment: The pair has broken above its previous high, the RSI remains supported by a rising trend line.



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Forex Trading Signals June 29th 2011 (Pre- US Market Open)

EUR/USD intraday: bounce. Pivot: 1.4325
Most Likely Scenario: Long positions above 1.4325 with targets @ 1.4425 & 1.4455 in extension.
Alternative scenario: Below 1.4325 look for further downside with 1.4275 & 1.4235 as targets.
Comment: The pair has broken above its resistance and should post further advance as the RSI remains supported by a rising trend line.


GBP/USD intraday: the upside prevails. Pivot: 1.596
Most Likely Scenario: Long positions above 1.596 with targets @ 1.6045 & 1.6075 in extension.
Alternative scenario: Below 1.596 look for further downside with 1.5915 & 1.5885 as targets.
Comment: The pair stands above its support, the RSI is mixed to bullish.


USD/JPY intraday: the upside prevails. Pivot: 80.85
Most Likely Scenario: Long positions above 80.85 with targets @ 81.3 & 81.55 in extension.
Alternative scenario: Below 80.85 look for further downside with 80.7 & 80.5 as targets.
Comment: The pair remains on the upside as the RSI is supported by a rising trend line.


AUD/USD intraday: the upside prevails. Pivot: 1.0545
Most Likely Scenario: Long positions above 1.0545 with targets @ 1.062 & 1.065 in extension.
Alternative scenario: Below 1.0545 look for further downside with 1.05 & 1.0475 as targets.
Comment: The pair has broken above its channel upper boundary and remains on the upside.



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Forex: EUR/USD strengthens ahead of Greek vote

The European single currency is strengthening against its American counterpart as investors remain optimistic ahead of the Greek austerity vote later today.
If Parliament fails to pass the proposed austerity measures, Greece will go bankrupt in two weeks.

Frommer's Greece (Frommer's Complete Guides)


From a technical point of view, “EUR/USD nice looking run higher on the day has come to a stop on the day just below the 50-day MA at 1.4404. The mkt holds up well at this point, so technically no reason to change the moderately bullish view right now,” says the FXMarketAlerts Team. “It's a waiting game now until Wed to see if a breakout at 1.4404/41 can occur.”

At the time of writing, EURUSD has opened the Asian trade in the 1.4370 price zone. To the upside, according to the FXMarketAlerts Team, resistance levels lie at 1.4397 (hourly high), 1.4400 (figure) and 1.4404 (50-day MA). To the downside, support levels lie at 1.4330/25 (recent tops), 1.4293 (break level) and 1.4250/35 (intraday level).




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

EUR/USD intraday: rebound expected. Pivot: 1.4235
Most Likely Scenario: Long positions above 1.4235 with targets @ 1.4325 & 1.4355 in extension.
Alternative scenario: Below 1.4235 look for further downside with 1.42 & 1.416 as targets.
Comment: The pair has struck against its resistance and is pulling back on its support ahead of a rebound.


GBP/USD intraday: rebound expected. Pivot: 1.5915
Most Likely Scenario: Long positions above 1.5915 with targets @ 1.601 & 1.604 in extension.
Alternative scenario: Below 1.5915 look for further downside with 1.5885 & 1.5825 as targets.
Comment: The pair stands above its support and should post a rebound.


USD/JPY intraday: the upside prevails. Pivot: 80.65
Most Likely Scenario: Long positions above 80.65 with targets @ 81 & 81.1 in extension.
Alternative scenario: Below 80.65 look for further downside with 80.5 & 80.35 as targets.
Comment: The pair is rebounding on its support as the RSI remains supported by a MT rising trend line.


AUD/USD intraday: intraday support around 1.0425. Pivot: 1.0425
Most Likely Scenario: Long positions above 1.0425 with targets @ 1.0485 & 1.052 in extension.
Alternative scenario: Below 1.0425 look for further downside with 1.039 & 1.036 as targets.
Comment: The pair is pulling back on its support ahead of a rebound.





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Forex Trading Signals June 28th 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails. Pivot: 1.4235.
Most Likely Scenario: LONG positions above 1.4235 with targets @ 1.4355 & 1.4425.
Alternative scenario: The downside penetration of 1.4235 will call for 1.42 & 1.416.
Comment: The pair has broken above its declining trend line and remains on the upside.
Trend: ST Ltd Upside; MT Range


GBP/USD intraday: caution. Pivot: 1.5915.
Most Likely Scenario: LONG positions above 1.5915 with 1.601 & 1.604 in sight.
Alternative scenario: The downside breakout of 1.5915 will open the way to 1.5885 & 1.5825.
Comment: The pair stands above its support but lacks upward momentum.


USD/JPY intraday: the upside prevails. Pivot: 80.65.
Most Likely Scenario: LONG positions above 80.65 with targets @ 81 & 81.1.
Alternative scenario: The downside penetration of 80.65 will call for 80.5 & 80.35.
Comment: The pair stands above its support and remains on the upside.


AUD/USD intraday: under pressure. Pivot: 1.0485
Most Likely Scenario: Short positions below 1.0485 with targets @ 1.0425 & 1.039 in extension.
Alternative scenario: Above 1.0485 look for further upside with 1.052 & 1.055 as targets.
Comment: The pair is posting a rebound but stands below its resistance, caution.





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

EUR/USD intraday: under pressure. Pivot: 1.4200.
Most Likely Scenario: SHORT positions below 1.42 with targets @ 1.407 & 1.399.
Alternative scenario: The upside penetration of 1.42 will call for 1.425 & 1.431.
Comment: The pair has broken below its rising trend line and should face further weakness.
Trend: ST Ltd Upside; MT Range


GBP/USD intraday: under pressure. Pivot: 1.5995.
Most Likely Scenario: SHORT positions below 1.5995 with 1.5885 & 1.5825 in sight.
Alternative scenario: The upside penetration of 1.5995 will call for a rebound towards 1.604 & 1.6075.
Comment: The pair has broken below its support and remains on the downside.


USD/JPY intraday: the upside prevails. Pivot: 80.50.
Most Likely Scenario: LONG positions above 80.5 with targets @ 80.95 & 81.1.
Alternative scenario: The downside penetration of 80.5 will call for a slide towards 80.35 & 80.15.
Comment: The pair remains on the upside and is challenging its resistance.


AUD/USD intraday: under pressure. Pivot: 1.048
Most Likely Scenario: Short positions below 1.048 with targets @ 1.04 & 1.036 in extension.
Alternative scenario: Above 1.048 look for further upside with 1.052 & 1.055 as targets.
Comment: The pair is challenging the lower end of its channel.





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EURUSD Testing 1.4125

The EURUSD pair is currently testing support at 1.4125 as the selling wave intensifies.
A breach of 1.4125 to the downside will open the way towards 1.4075, which is the next line of support.

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EUR/USD intraday: further advance. Pivot: 1.423

Most Likely Scenario: Long positions above 1.423 with targets @ 1.4345 & 1.438 in extension.

Alternative scenario: Below 1.423 look for further downside with 1.419 & 1.4125 as targets.

Comment: The RSI is bullish and calls for further advance.

GBP/USD intraday: continuation of the rebound. Pivot: 1.598

Most Likely Scenario: Long positions above 1.598 with targets @ 1.6075 & 1.611 in extension.

Alternative scenario: Below 1.598 look for further downside with 1.5935 & 1.5885 as targets.

Comment: The price remains on the upside and is breaking through its resistance.

USD/JPY intraday: the downside prevails. Pivot: 80.4

Most Likely Scenario: Short positions below 80.4 with targets @ 80.15 & 80 in extension.

Alternative scenario: Above 80.4 look for further upside with 80.55 & 80.65 as targets.

Comment: The RSI is capped by a bearish trend line

AUD/USD intraday: continuation of the rebound. Pivot: 1.053

Most Likely Scenario: Long positions above 1.053 with targets @ 1.0615 & 1.065 in extension.

Alternative scenario: Below 1.053 look for further downside with 1.0505 & 1.0455 as targets.

Comment: A bullish flag pattern is confirmed, calling further upside.

Forex Trading Signals June 23rd 2011 (Pre- EU Market Open)

EUR/USD intraday: under pressure. Pivot: 1.4360.

Most Likely Scenario: SHORT positions @ 1.435 with 1.4255 & 1.4215 in sight.

Alternative scenario: The upside penetration of 1.436 will call for 1.442 & 1.4445.

Comment: the pair and its intraday RSI have broken below their rising trend lines and remain under pressure.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: the downside prevails. Pivot: 1.6110.

Most Likely Scenario: SHORT positions @ 1.61 with targets @ 1.602 & 1.597.

Alternative scenario: The upside breakout of 1.611 will open the way to 1.615 & 1.62.

Comment: the pair has broken below its support and remains under pressure.

USD/JPY intraday: the upside prevails. Pivot: 80.25.

Most Likely Scenario: LONG positions @ 80.3 with targets @ 80.65 & 80.8.

Alternative scenario: The downside penetration of 80.25 will call for a slide towards 80.15 & 80.

Comment: the pair stands above its new support and remains on the upside.

AUD/USD intraday: under pressure. Pivot: 1.0615

Most Likely Scenario: Short positions below 1.0615 with targets @ 1.053 & 1.05 in extension.

Alternative scenario: Above 1.0615 look for further upside with 1.0655 & 1.069 as targets.

Comment: the RSI is bearish and calls for further downside.

Forex Trading Signals June 22nd 2011 (Pre- US Market Open)

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

Pivot: 1.4325

Most Likely Scenario: Long positions above 1.4325 with targets @ 1.4435 & 1.45 in extension.

Alternative scenario: Below 1.4325 look for further downside with 1.429 & 1.425 as targets.

Comment: the RSI is supported by a rising trend line, the pair remains within a bullish channel.

GBP/USD intraday: under pressure.

Pivot: 1.62

Most Likely Scenario: Short positions below 1.62 with targets @ 1.611 & 1.6075 in extension.

Alternative scenario: Above 1.62 look for further upside with 1.623 & 1.626 as targets.

Comment: the RSI is badly directed, the pair has broken below its support and remains under pressure.

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USD/JPY intraday: the downside prevails.

Pivot: 80.4

Most Likely Scenario: Short positions below 80.4 with targets @ 80 & 79.9 in extension.

Alternative scenario: Above 80.4 look for further upside with 80.5 & 80.7 as targets.

Comment: the pair has struck against its resistance and remains under pressure.

AUD/USD intraday: caution.

Pivot: 1.056

Most Likely Scenario: Long positions above 1.056 with targets @ 1.0625 & 1.0655 in extension.

Alternative scenario: Below 1.056 look for further downside with 1.053 & 1.05 as targets.

Comment: intraday technical indicators are mixed and call for caution.

Forex Trading Signals June 21st 2011 (Pre- EU Market Open)

EUR/USD intraday: further advance. Pivot: 1.4290.

Most Likely Scenario: LONG positions @ 1.43 with 1.44 & 1.445 as next targets.

Alternative scenario: The downside penetration of 1.429 will call for a slide towards 1.424 & 1.418.

Comment: The RSI is well directed, the pair has rebounded on its new support and should post further advance.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: rebound. Pivot: 1.6170.

Most Likely Scenario: LONG positions @ 1.618 with targets @ 1.626 & 1.6285.

Alternative scenario: The downside penetration of 1.617 will call for 1.615 & 1.611.

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

USD/JPY intraday: under pressure. Pivot: 80.40.

Most Likely Scenario: SHORT positions @ 80.35 with 80 & 79.9 as next targets.

Alternative scenario: The upside penetration of 80.4 will call for 80.5 & 80.7.

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

AUD/USD intraday: limited upside. Pivot: 1.051

Most Likely Scenario: Long positions above 1.051 with targets @ 1.0615 & 1.0655 in extension.

Alternative scenario: Below 1.051 look for further downside with 1.0475 & 1.045 as targets.

Comment: The RSI is mixed with a bullish bias.

Forex: EUR/USD settles above 1.4300

EUR/USD recovered from the 1.4190 area, where the pair bottomed out during the European session and rose over 140 pips propelled by an improvement in market sentiment amid European assurances that a solution for Greece will be reached.

“Euro is seeing some strength today against the United States Dollar as market is beginning to believe in a resolution of Greek debacle. The situation is simple to resolve it seems, Greece will get additional funds of €12 Billion by mid-June only if they agree to stricter austerity measures. By showing complacency regarding austerity measures, Greece might further advance its own cause of further bailouts. In turn Greece will refrain from defaulting. Bearing the following premise in mind, market participants are becoming optimistic and bidding up the Euro,” said Andrei Tratseuski, from Forex Club.

However, EUR/USD found resistance at the 1.4325 area and has spent the last hours consolidating into a tight range just below that level. At time of writing, the pair is quoting at the 1.4310 zone, 0.23% above its opening price. On the upside, if the Euro manages to extend gains beyond highs, next resistance might be found at 1.4335, while immediate supports could be faced at 1.4190 and 1.4150/60.

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

EUR/USD intraday: under pressure. Pivot: 1.4300.

Most Likely Scenario: SHORT positions @ 1.429 with 1.418 & 1.413 in sight.

Alternative scenario: The upside penetration of 1.43 will call for a rebound towards 1.4345 & 1.44.

Comment: The pair has broken below a rising trend line, the pair should should face further weakness.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: under pressure.Pivot: 1.6175.

Most Likely Scenario: SHORT positions @ 1.6165 with 1.61 & 1.6075 as next targets.

Alternative scenario: The upside breakout of 1.6175 will open the way to 1.6225 & 1.6285.

Comment: The pair should reach its previous low as the RSI has broken below a rising trend line.

USD/JPY intraday: under pressure. Pivot: 80.50.

Most Likely Scenario: SHORT positions @ 80.45 with 80 & 79.9 in sight.

Alternative scenario: The upside breakout of 80.5 will open the way to 80.7 & 80.9.

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

AUD/USD intraday: under pressure. Pivot: 1.059

Most Likely Scenario: Short positions below 1.059 with targets @ 1.0505 & 1.0475 in extension.

Alternative scenario: Above 1.059 look for further upside with 1.063 & 1.065 as targets.

Comment: The RSI broke below a rising trend line.

Forex Trading Signals June 17th 2011 (Pre- US Market Open)

EUR/USD intraday: rebound.

Pivot: 1.413

Most Likely Scenario: Long positions above 1.413 with targets @ 1.4265 & 1.4325 in extension.

Alternative scenario: Below 1.413 look for further downside with 1.4065 & 1.4025 as targets.

Comment: the pair is breaking above its resistance, the RSI is supported by a rising trend line.

GBP/USD intraday: under pressure.

Pivot: 1.6175

Most Likely Scenario: Short positions below 1.6175 with targets @ 1.61 & 1.6075 in extension.

Alternative scenario: Above 1.6175 look for further upside with 1.6225 & 1.6285 as targets.

Comment: the pair stands below its resistance, the RSI is mixed to bearish.

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USD/JPY intraday: under pressure.

Pivot: 80.7

Most Likely Scenario: Short positions below 80.7 with targets @ 80.25 & 80.05 in extension.

Alternative scenario: Above 80.7 look for further upside with 80.9 & 81.1 as targets.

Comment: the RSI is capped by a declining trend line, the pair is breaking below its support and should face further down move.

AUD/USD intraday: rebound.

Pivot: 1.051

Most Likely Scenario: Long positions above 1.051 with targets @ 1.0625 & 1.065 in extension.

Alternative scenario: Below 1.051 look for further downside with 1.0475 & 1.044 as targets.

Comment: the RSI calls for a rebound.

Forex Trading Signals June 17th 2011 (Pre- EU Market Open)

EUR/USD intraday: the downside prevails. Pivot: 1.4215.

Most Likely Scenario: SHORT positions @ 1.4205 with 1.4065 & 1.4025 in sight.

Alternative scenario: The upside penetration of 1.4215 will call for a rebound towards 1.4265 & 1.4325.

Comment: The pair has struck against its resistance and should face further weakness as the RSI remains capped by a MT declining trend line. Trend: ST Ltd Upside; MT Range

GBP/USD intraday: under pressure. Pivot: 1.6175.

Most Likely Scenario: SHORT positions @ 1.6165 with 1.6075 & 1.602 as next targets.

Alternative scenario: The upside penetration of 1.6175 will call for a rebound towards 1.6225 & 1.6285.

Comment: The pair has broken below a bearish flag lower boundary and should face further weakness.

USD/JPY intraday: under pressure. Pivot: 80.90.

Most Likely Scenario: SHORT positions @ 80.85 with 80.45 & 80.25 in sight.

Alternative scenario: The upside penetration of 80.9 will call for 81.1 & 81.35.

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

AUD/USD intraday: key ST resistance at 1.0595. Pivot: 1.0595

Most Likely Scenario: Short positions below 1.0595 with targets @ 1.0525 & 1.0475 in extension.

Alternative scenario: Above 1.0595 look for further upside with 1.0625 & 1.065 as targets.

Comment: The upward potential is likely to be limited by the resistance at 1.0595.

Forex Trading Signals June 16th 2011 (Pre- EU Market Open)

EUR/USD intraday: the downside prevails. Pivot: 1.4215.

Most Likely Scenario: SHORT positions @ 1.4205 with 1.4065 & 1.4025 in sight.

Alternative scenario: The upside penetration of 1.4215 will call for a rebound towards 1.4265 & 1.4325.

Comment: The pair stands below its new resistance and remains under pressure, the RSI is mixed to bearish.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: under pressure. Pivot: 1.6225.

Most Likely Scenario: SHORT positions @ 1.6215 with 1.615 & 1.6105 in sight.

Alternative scenario: The upside breakout of 1.6225 will open the way to 1.6285 & 1.6325.

Comment: The pair remains under pressure and stands below its new resistance.

USD/JPY intraday: the upside prevails. Pivot: 80.60.

Most Likely Scenario: LONG positions @ 80.65 with 81.1 & 81.35 as next targets.

Alternative scenario: The downside penetration of 80.6 will call for a slide towards 80.35 & 80.25.

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

AUD/USD intraday: the downside prevails. Pivot: 1.0595

Most Likely Scenario: Short positions below 1.0595 with targets @ 1.0525 & 1.049 in extension.

Alternative scenario: Above 1.0595 look for further upside with 1.0625 & 1.065 as targets.

Comment: The RSI is mixed with a bearish bias.

Forex Trading Signals June 15th 2011 (Pre- EU Market Open)

EUR/USD intraday: intraday support around 1.4375 Pivot: 1.4375.

Most Likely Scenario: LONG positions @ 1.4385 with 1.4455 & 1.45 in sight.

Alternative scenario: The downside penetration of 1.4375 will call for a slide towards 1.432 & 1.43.

Comment: The pair is pulling back on its new support ahead of further advance.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: rebound expected. Pivot: 1.6340.

Most Likely Scenario: LONG positions @ 1.635 with 1.64 & 1.642 in sight.

Alternative scenario: The downside breakout of 1.634 will open the way to 1.6315 & 1.6285.

Comment: The pair stands above its new support, the RSI lacks downward momentum.

USD/JPY intraday: rebound. Pivot: 80.30.

Most Likely Scenario: LONG positions @ 80.35 with targets @ 80.7 & 80.9.

Alternative scenario: The downside breakout of 80.3 will open the way to 80.1 & 80.

Comment: The pair is rebounding on its support, the RSI is well directed.

AUD/USD intraday: 1.0755 in sight. Pivot: 1.0655

Most Likely Scenario: Long positions above 1.0655 with targets @ 1.072 & 1.0755 in extension.

Alternative scenario: Below 1.0655 look for further downside with 1.063 & 1.06 as targets.

Comment: The pair is trading in an intraday bullish channel.

Forex Trading Signals June 14th 2011 (Pre- US Market Open)

EUR/USD intraday: the upside prevails. Pivot: 1.4365

Most Likely Scenario: Long positions above 1.4365 with targets @ 1.45 & 1.4555 in extension.

Alternative scenario: Below 1.4365 look for further downside with 1.432 & 1.425 as targets.

Comment: The pair remains on the upside and is challenging its resistance, the RSI is well directed.

GBP/USD intraday: the upside prevails. Pivot: 1.635

Most Likely Scenario: Long positions above 1.635 with targets @ 1.645 & 1.6475 in extension.

Alternative scenario: Below 1.635 look for further downside with 1.6315 & 1.628 as targets.

Comment: The pair has struck against its resistance and is pulling back on its new support, the RSI is mixed to bullish.

USD/JPY intraday: under pressure. Pivot: 80.5

Most Likely Scenario: Short positions below 80.5 with targets @ 80.1 & 80 in extension.

Alternative scenario: Above 80.5 look for further upside with 80.7 & 80.9 as targets.

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

AUD/USD intraday: rebound. Pivot: 1.0575

Most Likely Scenario: Long positions above 1.0575 with targets @ 1.07 & 1.0755 in extension.

Alternative scenario: Below 1.0575 look for further downside with 1.0525 & 1.0475 as targets.

Comment: The pair has broken above its bearish channel upper boundary and remains on the upside.

Forex Trading Signals June 9th 2011

EUR/USD intraday: the upside prevails. Pivot: 1.4555.

Most Likely Scenario: LONG positions @ 1.4565 with targets @ 1.464 & 1.47.

Alternative scenario: The downside breakout of 1.4555 will open the way to 1.452 & 1.445.

Comment: The RSI has broken above a declining trend line, the pair has rebounded on its support and remains on the upside.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: the upside prevails. Pivot: 1.6350.

Most Likely Scenario: LONG positions @ 1.636 with 1.646 & 1.65 as next targets.

Alternative scenario: The downside breakout of 1.635 will open the way to 1.631 & 1.6275.

Comment: The pair remains within a bullish channel.

USD/JPY intraday: rebound. Pivot: 79.85.

Most Likely Scenario: LONG positions @ 79.9 with 80.4 & 80.7 as next targets.

Alternative scenario: The downside breakout of 79.85 will open the way to 79.6 & 79.45.

Comment: The pair has broken above its channel upper boundary and should post a rebound.

AUD/USD intraday: the downside prevails. Pivot: 1.065

Most Likely Scenario: Short positions below 1.065 with targets @ 1.056 & 1.0545 in extension.

Alternative scenario: Above 1.065 look for further upside with 1.0685 & 1.072 as targets.

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

Forex Trading Signals June 6th 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails. Pivot: 1.4580.

Most Likely Scenario: LONG positions @ 1.459 with targets @ 1.47 & 1.4755.

Alternative scenario: The downside breakout of 1.458 will open the way to 1.452 & 1.4445.

Comment: The pair should pull back on its intermediary support ahead of further up move.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: the upside prevails. Pivot: 1.6375.

Most Likely Scenario: LONG positions @ 1.6385 with 1.6475 & 1.6515 as next targets.

Alternative scenario: The downside breakout of 1.6375 will open the way to 1.6325 & 1.628.

Comment: The pair has struck against its resistance and is facing a pull back on its new support.

USD/JPY intraday: capped by a negative trend line. Pivot: 80.70.

Most Likely Scenario: SHORT positions @ 80.65 with 80.05 & 79.85 as next targets.

Alternative scenario: The upside penetration of 80.7 will call for a rebound towards 81 & 81.2.

Comment: The pair stands below its new resistance and remains under pressure.

AUD/USD intraday: the upside prevails. Pivot: 1.0675

Most Likely Scenario: Long positions above 1.0675 with targets @ 1.0775 & 1.08 in extension.

Alternative scenario: Below 1.0675 look for further downside with 1.0645 & 1.0595 as targets.

Comment: The pair is on the upside and is challenging its resistance, the RSI is mixed to bullish.

Pip Movement Ranges for Better Trade Management

Forex Trading Signals June 2nd 2011 (Pre- EU Market Open)

EUR/USD intraday: key ST resistance at 1.439 11 Pivot: 1.4390.

Most Likely Scenario: SHORT positions @ 1.438 with 1.43 & 1.4265 in sight.

Alternative scenario: The upside penetration of 1.439 will call for 1.4425 & 1.446.

Comment: The pair has broken below its bullish channel lower boundary and should face a weakness.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: under pressure. Pivot: 1.6375.

Most Likely Scenario: SHORT positions @ 1.6365 with 1.63 & 1.6265 as next targets.

Alternative scenario: The upside penetration of 1.6375 will call for a rebound towards 1.6425 & 1.6475.

Comment: The pair remains on the downside and is approaching its support.

USD/JPY intraday: under pressure. Pivot: 81.30.

Most Likely Scenario: SHORT positions @ 81.25 with targets @ 80.85 & 80.65.

Alternative scenario: The upside breakout of 81.3 will open the way to 81.4 & 81.6.

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

AUD/USD intraday: under pressure. Pivot: 1.0655

Most Likely Scenario: Short positions below 1.0655 with targets @ 1.0535 & 1.048 in extension.

Alternative scenario: Above 1.0655 look for further upside with 1.072 & 1.0755 as targets.

Comment: The break below 1.0655 is a negative signal that has opened a path to 1.0535.