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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