Forex Trading Signals 12th February 2012 (Pre-US Market Open) fxflowsignals.blogsp

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: BULLISH BIAS ABOVE 1.3375. 
Pivot: 1.3375
Most Likely Scenario: Long positions above 1.3375 with targets @ 1.349 & 1.3525 in extension.
Alternative scenario: Below 1.3375 look for further downside with 1.335 & 1.328 as targets.
Comment: both the pair and the RSI have broken above a bearish trend line turning the outlook bullish.



GBP/USD INTRADAY: THE DOWNSIDE PREVAILS. 
Pivot: 1.564
Most Likely Scenario: Short positions below 1.564 with targets @ 1.557 & 1.5525 in extension.
Alternative scenario: Above 1.564 look for further upside with 1.568 & 1.5705 as targets.
Comment: as long as the resistance at 1.564 is not surpassed, the risk of the break below 1.557 remains high.






USD/JPY INTRADAY: FURTHER ADVANCE. Pivot: 93.55
Most Likely Scenario: Long positions above 93.55 with targets @ 94.45 & 94.75 in extension.
Alternative scenario: Below 93.55 look for further downside with 93.3 & 92.9 as targets.
Comment: the pair has exceeded its previous high as the RSI has broken above a bearish trend line.

AUD/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE. 

Pivot: 1.027
Most Likely Scenario: Short positions below 1.027 with targets @ 1.02 & 1.015 in extension.
Alternative scenario: Above 1.027 look for further upside with 1.029 & 1.0325 as targets.
Comment: the RSI is mixed to bearish.