Forex Trading Signals June 29th 2012 (Pre- EU Market Open)

EUR/USD INTRADAY: TOWARDS 1.266

Pivot: 1.2525.

Most Likely Scenario: LONG positions above 1.2525 with targets @ 1.263 & 1.266.

Alternative scenario: The downside breakout of 1.2525 will open the way to 1.246 & 1.241.

Comment: the break above 1.2525 is a positive signal that has opened a path to 1.263.

GBP/USD INTRADAY: FURTHER ADVANCE.

Pivot: 1.5540.

Most Likely Scenario: LONG positions above 1.554 with 1.5645 & 1.569 as next targets.

Alternative scenario: The downside breakout of 1.554 will open the way to 1.5505 & 1.548.

Comment: the RSI calls for a new upleg.

USD/JPY INTRADAY: UNDER PRESSURE.

Pivot: 79.45.

Most Likely Scenario: SHORT positions below 79.45 with 79 & 78.75 as next targets.

Alternative scenario: The upside breakout of 79.45 will open the way to 79.6 & 79.85.

Comment: the RSI is mixed with a bearish bias.

AUD/USD INTRADAY: FURTHER ADVANCE.

Pivot: 1.009

Most Likely Scenario: Long positions above 1.009 with targets @ 1.0175 & 1.021 in extension.

Alternative scenario: Below 1.009 look for further downside with 1.005 & 0.999 as targets.

Comment: the RSI is well directed.