Wednesday, June 22, 2011

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.

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