Forex Trading Signals November 18th 2011 (Pre-US Market Open)

EUR/USD intraday: under pressure.
Pivot: 1.3555
Most Likely Scenario: Short positions below 1.3555 with targets @ 1.3425 & 1.338 in extension.
Alternative scenario: Above 1.3555 look for further upside with 1.36 & 1.364 as targets.
Comment: the pair is posting a rebound but stands below its resistance.

GBP/USD intraday: rebound.
Pivot: 1.574
Most Likely Scenario: Long positions above 1.574 with targets @ 1.5875 & 1.593 in extension.
Alternative scenario: Below 1.574 look for further downside with 1.571 & 1.568 as targets.
Comment: the RSI is well directed, the pair is breaking above its resistance.

USD/JPY intraday: under pressure. 
Pivot: 77.2
Most Likely Scenario: Short positions below 77.2 with targets @ 76.5 & 76.3 in extension.
Alternative scenario: Above 77.2 look for further upside with 77.45 & 77.9 as targets.
Comment: the pair is on the downside and is breaking below its support.

AUD/USD intraday: the downside prevails. 
Pivot: 1.0085
Most Likely Scenario: Short positions below 1.0085 with targets @ 0.9965 & 0.99 in extension.
Alternative scenario: Above 1.0085 look for further upside with 1.012 & 1.017 as targets.
Comment: the pair remains within a bearish channel.


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