Tuesday, June 14, 2011

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.

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