Forex Trading Signals 6th March 2012 (Pre-EU Market Open)

EUR/USD INTRADAY: THE BIAS REMAINS BULLISH.Pivot: 1.3010.
Most Likely Scenario: LONG positions @ 1.302 with targets @ 1.3075 & 1.3095.
Alternative scenario: The downside breakout of 1.301 will open the way to 1.297 & 1.2945.
Comment: the pair has rebounded on its support and should post further advance as the RSI is well directed but stands below its overbought area.

GBP/USD INTRADAY: UNDER PRESSURE.Pivot: 1.5180.
Most Likely Scenario: SHORT positions below 1.518 with targets @ 1.511 & 1.5075.
Alternative scenario: The upside penetration of 1.518 will call for 1.522 & 1.5245.
Comment: the pair is posting a rebound but stands below its new resistance, the RSI lacks upward momentum.

USD/JPY INTRADAY: THE DOWNSIDE PREVAILS.Pivot: 93.50.
Most Likely Scenario: SHORT positions below 93.5 with 93 & 92.7 as next targets.
Alternative scenario: The upside penetration of 93.5 will call for 93.65 & 93.9.
Comment: the pair is under pressure and is challenging its support, the RSI stands below its neutrality area and is turning down.






AUD/USD INTRADAY: THE UPSIDE PREVAILS.Pivot: 1.024
Most Likely Scenario: Long positions above 1.024 with targets @ 1.03 & 1.033 in extension.
Alternative scenario: Below 1.024 look for further downside with 1.022 & 1.019 as targets.
Comment: the pair remains on the upside and is approaching its next resistance, the RSI is well directed and stands below its overbought area.