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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