Forex Trading Signals July 5th 2012 (Pre- EU Market Open)

EUR/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE.
Pivot: 1.2565.

Most Likely Scenario: SHORT positions below 1.2565 with 1.25 & 1.246 as next targets.
Alternative scenario: The upside breakout of 1.2565 will open the way to 1.2625 & 1.2665.
Comment: As long as the resistance at 1.2565 is not surpassed, the risk of the break below 1.25 remains high.


GBP/USD INTRADAY: KEY ST RESISTANCE AT 1.564
Pivot: 1.5640.

Most Likely Scenario: SHORT positions below 1.564 with targets @ 1.557 & 1.554.
Alternative scenario: The upside penetration of 1.564 will call for a rebound towards 1.566 & 1.5705.
Comment: As long as 1.564 is resistance, look for choppy price action with a bearish bias.


USD/JPY INTRADAY: INTRADAY SUPPORT AROUND 79.65
Pivot: 79.65.

Most Likely Scenario: LONG positions above 79.65 with 80.1 & 80.25 as next targets.
Alternative scenario: The downside breakout of 79.65 will open the way to 79.45 & 79.25.
Comment: The RSI lacks downward momentum.


AUD/USD INTRADAY: CAUTION.
Pivot: 1.024

Most Likely Scenario: Long positions above 1.024 with targets @ 1.032 & 1.035 in extension.
Alternative scenario: Below 1.024 look for further downside with 1.02 & 1.015 as targets.
Comment: The RSI is mixed and calls for caution


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Forex Trading Signals July 4th 2012 (Pre- US Market Open)

EUR/USD INTRADAY: BULLISH BIAS ABOVE 1.2555.
Pivot: 1.2555

Most Likely Scenario: Long positions above 1.2555 with targets @ 1.264 & 1.27 in extension.
Alternative scenario: Below 1.2555 look for further downside with 1.2525 & 1.2515 as targets.
Comment: A support base at 1.2555 has formed and has allowed for a temporary stabilisation.


GBP/USD INTRADAY: BULLISH BIAS ABOVE 1.564.
Pivot: 1.564

Most Likely Scenario: Long positions above 1.564 with targets @ 1.572 & 1.5775 in extension.
Alternative scenario: Below 1.564 look for further downside with 1.56 & 1.557 as targets.
Comment: The RSI lacks downward momentum.


USD/JPY INTRADAY: BULLISH BIAS ABOVE 79.45.
Pivot: 79.45

Most Likely Scenario: Long positions above 79.45 with targets @ 80 & 80.25 in extension.
Alternative scenario: Below 79.45 look for further downside with 79.25 & 79.1 as targets.
Comment: The RSI is mixed with a bullish bias.


AUD/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.024

Most Likely Scenario: Long positions above 1.024 with targets @ 1.035 & 1.04 in extension.
Alternative scenario: Below 1.024 look for further downside with 1.02 & 1.015 as targets.
Comment: The immediate trend remains up and the momentum is strong.


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Forex Trading Signals Pre US Market Open , 02 JULY 2012

Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out.

EUR/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.2525

Most Likely Scenario: Long positions above 1.2525 with targets @ 1.27 & 1.2745 in extension.
Alternative scenario: Below 1.2525 look for further downside with 1.246 & 1.241 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.



GBP/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.56

Most Likely Scenario: Long positions above 1.56 with targets @ 1.5735 & 1.5775 in extension.
Alternative scenario: Below 1.56 look for further downside with 1.557 & 1.552 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.


USD/JPY INTRADAY: BULLISH BIAS ABOVE 79.45.
Pivot: 79.45

Most Likely Scenario: Long positions above 79.45 with targets @ 80 & 80.25 in extension.
Alternative scenario: Below 79.45 look for further downside with 79.1 & 78.75 as targets.
Comment: The RSI lacks downward momentum.


AUD/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.019

Most Likely Scenario: Long positions above 1.019 with targets @ 1.03 & 1.035 in extension.
Alternative scenario: Below 1.019 look for further downside with 1.015 & 1.013 as targets.
Comment: The RSI is well directed.


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