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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