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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