Forex Trading Signals 5th March 2012 (Pre-US Market Open)

EUR/USD INTRADAY: BULLISH BIAS ABOVE 1.301.Pivot: 1.301
Most Likely Scenario: Long positions above 1.301 with targets @ 1.3095 & 1.313 in extension.
Alternative scenario: Below 1.301 look for further downside with 1.297 & 1.2945 as targets.
Comment: the pair is facing a pull back on its support ahead of further advance.





GBP/USD INTRADAY: THE UPSIDE PREVAILS.Pivot: 1.5075
Most Likely Scenario: Long positions above 1.5075 with targets @ 1.522 & 1.5245 in extension.
Alternative scenario: Below 1.5075 look for further downside with 1.504 & 1.498 as targets.
Comment: the pair remains on the upside and is approaching its next resistance, the RSI is well directed.

USD/JPY INTRADAY: UNDER PRESSURE.Pivot: 93.65
Most Likely Scenario: Short positions below 93.65 with targets @ 92.7 & 92.35 in extension.
Alternative scenario: Above 93.65 look for further upside with 93.9 & 94.3 as targets.
Comment: the pair has broken below its support and remains under pressure, the RSI is rebounding but stands below its neutrality area.





AUD/USD INTRADAY: FURTHER UPSIDE.Pivot: 1.018
Most Likely Scenario: Long positions above 1.018 with targets @ 1.0255 & 1.0285 in extension.
Alternative scenario: Below 1.018 look for further downside with 1.016 & 1.011 as targets.
Comment: the pair remains on the upside and is challenging its intermediary resistance, the RSI is well directed.