Wednesday, March 6, 2013

Forex Trading Signals 7th March 2012 (Pre-EU Market Open)

[EURUSD] Intraday Highlight: the downside prevails
Pivot:1.3025
Most Likely Scenario: Short positions below 1.3025 with targets at 1.2945 and 1.291 in extension
Alternative scenario: Above 1.3025 look for further upside with 1.307 and 1.3095 as targets
Comments: the pair has validated a bearish flag and is approaching its previous low


[GBPUSD] Intraday Highlight: the downside prevails
Pivot:1.506
Most Likely Scenario: Short positions below 1.506 with targets at 1.496 and 1.49 in extension
Alternative scenario: Above 1.506 look for further upside with 1.5105 and 1.515 as targets
Comments: a break below 1.496 would trigger a drop towards 1.49


[USDJPY] Intraday Highlight: the bias remains bullish
Pivot:93.45
Most Likely Scenario: Long positions above 93.45 with targets at 94.3 and 94.5 in extension
Alternative scenario: Below 93.45 look for further downside with 93 and 92.7 as targets
Comments: even though a continuation of the consolidation cannot be ruled out, its extent should be limited




[AUDUSD] Intraday Highlight: key ST resistance at 1.0265
Pivot:1.0265
Most Likely Scenario: Short positions below 1.0265 with targets at 1.0185 and 1.0155 in extension
Alternative scenario: Above 1.0265 look for further upside with 1.03 and 1.033 as targets
Comments: as long as 1.0265 is resistance, likely decline to 1.0185


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