Forex Trading Signals July 5th 2012 (Pre- EU Market Open)

EUR/USD INTRADAY: CAPPED BY A NEGATIVE TREND LINE.
Pivot: 1.2565.

Most Likely Scenario: SHORT positions below 1.2565 with 1.25 & 1.246 as next targets.
Alternative scenario: The upside breakout of 1.2565 will open the way to 1.2625 & 1.2665.
Comment: As long as the resistance at 1.2565 is not surpassed, the risk of the break below 1.25 remains high.


GBP/USD INTRADAY: KEY ST RESISTANCE AT 1.564
Pivot: 1.5640.

Most Likely Scenario: SHORT positions below 1.564 with targets @ 1.557 & 1.554.
Alternative scenario: The upside penetration of 1.564 will call for a rebound towards 1.566 & 1.5705.
Comment: As long as 1.564 is resistance, look for choppy price action with a bearish bias.


USD/JPY INTRADAY: INTRADAY SUPPORT AROUND 79.65
Pivot: 79.65.

Most Likely Scenario: LONG positions above 79.65 with 80.1 & 80.25 as next targets.
Alternative scenario: The downside breakout of 79.65 will open the way to 79.45 & 79.25.
Comment: The RSI lacks downward momentum.


AUD/USD INTRADAY: CAUTION.
Pivot: 1.024

Most Likely Scenario: Long positions above 1.024 with targets @ 1.032 & 1.035 in extension.
Alternative scenario: Below 1.024 look for further downside with 1.02 & 1.015 as targets.
Comment: The RSI is mixed and calls for caution


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Forex Trading Signals July 4th 2012 (Pre- US Market Open)

EUR/USD INTRADAY: BULLISH BIAS ABOVE 1.2555.
Pivot: 1.2555

Most Likely Scenario: Long positions above 1.2555 with targets @ 1.264 & 1.27 in extension.
Alternative scenario: Below 1.2555 look for further downside with 1.2525 & 1.2515 as targets.
Comment: A support base at 1.2555 has formed and has allowed for a temporary stabilisation.


GBP/USD INTRADAY: BULLISH BIAS ABOVE 1.564.
Pivot: 1.564

Most Likely Scenario: Long positions above 1.564 with targets @ 1.572 & 1.5775 in extension.
Alternative scenario: Below 1.564 look for further downside with 1.56 & 1.557 as targets.
Comment: The RSI lacks downward momentum.


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 79.25 & 79.1 as targets.
Comment: The RSI is mixed with a bullish bias.


AUD/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.024

Most Likely Scenario: Long positions above 1.024 with targets @ 1.035 & 1.04 in extension.
Alternative scenario: Below 1.024 look for further downside with 1.02 & 1.015 as targets.
Comment: The immediate trend remains up and the momentum is strong.


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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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Forex Trading Signals June 29th 2012 (Pre- US Market Open)

EUR/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.2525

Most Likely Scenario: Long positions above 1.2525 with targets @ 1.263 & 1.266 in extension.
Alternative scenario: Below 1.2525 look for further downside with 1.246 & 1.241 as targets.
Comment: the break above 1.2525 is a positive signal that has opened a path to 1.263.


GBP/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.5555

Most Likely Scenario: Long positions above 1.5555 with targets @ 1.5675 & 1.5705 in extension.
Alternative scenario: Below 1.5555 look for further downside with 1.552 & 1.548 as targets.
Comment: the RSI advocates for further upside.


USD/JPY INTRADAY: CONSOLIDATION.
Pivot: 79.75

Most Likely Scenario: Short positions below 79.75 with targets @ 79.1 & 79 in extension.
Alternative scenario: Above 79.75 look for further upside with 79.85 & 80 as targets.
Comment: the RSI is around its neutrality area at 50%


AUD/USD INTRADAY: FURTHER ADVANCE.
Pivot: 1.009

Most Likely Scenario: Long positions above 1.009 with targets @ 1.0195 & 1.023 in extension.
Alternative scenario: Below 1.009 look for further downside with 1.005 & 0.999 as targets.
Comment: the RSI is well directed.

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Forex Trading Signals June 29th 2012 (Pre- EU Market Open)

EUR/USD INTRADAY: TOWARDS 1.266

Pivot: 1.2525.

Most Likely Scenario: LONG positions above 1.2525 with targets @ 1.263 & 1.266.

Alternative scenario: The downside breakout of 1.2525 will open the way to 1.246 & 1.241.

Comment: the break above 1.2525 is a positive signal that has opened a path to 1.263.

PRE US OPEN, Daily Technical Analysis, 31 January 2012

EUR/USD intraday: the upside prevails. Pivot: 1.3115
Most Likely Scenario: Long positions above 1.3115 with targets @ 1.323 & 1.325 in extension.
Alternative scenario: Below 1.3115 look for further downside with 1.3075 & 1.305 as targets.
Comment: the pair is on the upside and is approaching its previous high.

GBP/USD intraday: further advance.
Pivot: 1.5725
Most Likely Scenario: Long positions above 1.5725 with targets @ 1.581 & 1.583 in extension.
Alternative scenario: Below 1.5725 look for further downside with 1.5655 & 1.5625 as targets.
Comment: the RSI is well directed.

USD/JPY intraday: key ST resistance at 76.6. 
Pivot: 76.6
Most Likely Scenario: Short positions below 76.6 with targets @ 76 & 75.75 in extension.
Alternative scenario: Above 76.6 look for further upside with 76.85 & 77.15 as targets.
Comment: technically, the RSI is below its neutrality area at 50.

AUD/USD intraday: further advance. Pivot: 1.061
Most Likely Scenario: Long positions above 1.061 with targets @ 1.0685 & 1.07 in extension.
Alternative scenario: Below 1.061 look for further downside with 1.0565 & 1.052 as targets.
Comment: the RSI is mixed to bullish.

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Forex Trading Signals November 18th 2011 (Pre-US Market Open)

EUR/USD intraday: under pressure.
Pivot: 1.3555
Most Likely Scenario: Short positions below 1.3555 with targets @ 1.3425 & 1.338 in extension.
Alternative scenario: Above 1.3555 look for further upside with 1.36 & 1.364 as targets.
Comment: the pair is posting a rebound but stands below its resistance.

GBP/USD intraday: rebound.
Pivot: 1.574
Most Likely Scenario: Long positions above 1.574 with targets @ 1.5875 & 1.593 in extension.
Alternative scenario: Below 1.574 look for further downside with 1.571 & 1.568 as targets.
Comment: the RSI is well directed, the pair is breaking above its resistance.

USD/JPY intraday: under pressure. 
Pivot: 77.2
Most Likely Scenario: Short positions below 77.2 with targets @ 76.5 & 76.3 in extension.
Alternative scenario: Above 77.2 look for further upside with 77.45 & 77.9 as targets.
Comment: the pair is on the downside and is breaking below its support.

AUD/USD intraday: the downside prevails. 
Pivot: 1.0085
Most Likely Scenario: Short positions below 1.0085 with targets @ 0.9965 & 0.99 in extension.
Alternative scenario: Above 1.0085 look for further upside with 1.012 & 1.017 as targets.
Comment: the pair remains within a bearish channel.


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Forex Trading Signals July 5th 2011 (Pre- EU Market Open)

EUR/USD intraday: rebound expected. Pivot: 1.4450.
Most Likely Scenario: LONG positions @ 1.446 with targets @ 1.4525 & 1.4555.
Alternative scenario: The downside breakout of 1.445 will open the way to 1.442 & 1.4375.
Comment: The pair is pulling back on its support and should post a rebound as the RSI is turning up.Trend: ST Ltd Upside; MT Range


GBP/USD intraday: caution. Pivot: 1.6020.
Most Likely Scenario: LONG positions @ 1.603 with targets @ 1.6075 & 1.6115.
Alternative scenario: The downside penetration of 1.602 will call for a slide towards 1.599 & 1.595.
Comment: The pair and its intraday RSI are pulling back on their rising trend lines, caution.


USD/JPY intraday: the upside prevails. Pivot: 80.70.
Most Likely Scenario: LONG positions above 80.7 with targets @ 81.2 & 81.3.
Alternative scenario: The downside penetration of 80.7 will call for 80.5 & 80.4.
Comment: The pair has rebounded on its support and should post further advance as the RSI is well directed.


AUD/USD intraday: consolidation in place.
Pivot: 1.073


Most Likely Scenario: Short positions below 1.073 with targets @ 1.0625 & 1.06 in extension.


Alternative scenario: Above 1.073 look for further upside with 1.0775 & 1.08 as targets.


Comment: The pair escaped from an upward sloping channel

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Forex Trading Signals July 1st 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails.  Pivot: 1.4450.
Most Likely Scenario: LONG positions @ 1.446 with 1.455 & 1.46 in sight.
Alternative scenario: The downside breakout of 1.445 will open the way to 1.4375 & 1.4325.
Comment: The RSI is supported by a rising trend line, the pair is rebounding on its bullish channel lower boundary and should post further advance.
Trend: ST Ltd Upside; MT Range


GBP/USD intraday: continuation of the rebound.  Pivot: 1.6000.
Most Likely Scenario: LONG positions above 1.6 with targets @ 1.6125 & 1.617.
Alternative scenario: The downside penetration of 1.6 will call for 1.595 & 1.591.
Comment: The pair is rebounding on its support as the RSI is turning up.


USD/JPY intraday: the upside prevails.  Pivot: 80.40.
Most Likely Scenario: LONG positions above 80.4 with 80.9 & 81 in sight.
Alternative scenario: The downside penetration of 80.4 will call for 80.25 & 80.1.
Comment: The pair is challenging its resistance and should face a pull back ahead of further advance.


AUD/USD intraday: the upside prevails.  Pivot: 1.0665
Most Likely Scenario: Long positions above 1.0665 with targets @ 1.0755 & 1.078 in extension.
Alternative scenario: Below 1.0665 look for further downside with 1.0615 & 1.0575 as targets.
Comment: The pair should post a rebound on its support as the RSI is turning up.


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Trader's Horoscope

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Forex Trading Signals June 30th 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails. Pivot: 1.4425.
Most Likely Scenario: LONG positions above 1.4425 with 1.4525 & 1.455 as next targets.
Alternative scenario: The downside penetration of 1.4425 will call for 1.4375 & 1.4325.
Comment: The RSI is supported by a rising trend line, the pair has broken above its previous high and remains on the upside.
Trend: ST Ltd Upside; MT Range


GBP/USD intraday: further advance. Pivot: 1.6030.
Most Likely Scenario: LONG positions above 1.603 with 1.6125 & 1.615 as next targets.
Alternative scenario: The downside penetration of 1.603 will call for a slide towards 1.6 & 1.595.
Comment: The pair remains on the upside and is approaching its next resistance.


USD/JPY intraday: key ST resistance at 80.7 Pivot: 80.70.
Most Likely Scenario: SHORT positions below 80.7 with 80.25 & 80.1 as next targets.
Alternative scenario: The upside breakout of 80.7 will open the way to 81 & 81.3.
Comment: The pair has broken below its support and remains under pressure as the RSI is badly directed.


AUD/USD intraday: watch 1.078. Pivot: 1.065
Most Likely Scenario: Long positions above 1.065 with targets @ 1.0755 & 1.078 in extension.
Alternative scenario: Below 1.065 look for further downside with 1.06 & 1.055 as targets.
Comment: The pair has broken above its previous high, the RSI remains supported by a rising trend line.



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Forex Trading Signals June 29th 2011 (Pre- US Market Open)

EUR/USD intraday: bounce. Pivot: 1.4325
Most Likely Scenario: Long positions above 1.4325 with targets @ 1.4425 & 1.4455 in extension.
Alternative scenario: Below 1.4325 look for further downside with 1.4275 & 1.4235 as targets.
Comment: The pair has broken above its resistance and should post further advance as the RSI remains supported by a rising trend line.


GBP/USD intraday: the upside prevails. Pivot: 1.596
Most Likely Scenario: Long positions above 1.596 with targets @ 1.6045 & 1.6075 in extension.
Alternative scenario: Below 1.596 look for further downside with 1.5915 & 1.5885 as targets.
Comment: The pair stands above its support, the RSI is mixed to bullish.


USD/JPY intraday: the upside prevails. Pivot: 80.85
Most Likely Scenario: Long positions above 80.85 with targets @ 81.3 & 81.55 in extension.
Alternative scenario: Below 80.85 look for further downside with 80.7 & 80.5 as targets.
Comment: The pair remains on the upside as the RSI is supported by a rising trend line.


AUD/USD intraday: the upside prevails. Pivot: 1.0545
Most Likely Scenario: Long positions above 1.0545 with targets @ 1.062 & 1.065 in extension.
Alternative scenario: Below 1.0545 look for further downside with 1.05 & 1.0475 as targets.
Comment: The pair has broken above its channel upper boundary and remains on the upside.



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Forex: EUR/USD strengthens ahead of Greek vote

The European single currency is strengthening against its American counterpart as investors remain optimistic ahead of the Greek austerity vote later today.
If Parliament fails to pass the proposed austerity measures, Greece will go bankrupt in two weeks.

Frommer's Greece (Frommer's Complete Guides)


From a technical point of view, “EUR/USD nice looking run higher on the day has come to a stop on the day just below the 50-day MA at 1.4404. The mkt holds up well at this point, so technically no reason to change the moderately bullish view right now,” says the FXMarketAlerts Team. “It's a waiting game now until Wed to see if a breakout at 1.4404/41 can occur.”

At the time of writing, EURUSD has opened the Asian trade in the 1.4370 price zone. To the upside, according to the FXMarketAlerts Team, resistance levels lie at 1.4397 (hourly high), 1.4400 (figure) and 1.4404 (50-day MA). To the downside, support levels lie at 1.4330/25 (recent tops), 1.4293 (break level) and 1.4250/35 (intraday level).




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Forex Trading Signals April 28th 2011 (Pre- US Market Open)

EUR/USD intraday: rebound expected. Pivot: 1.4235
Most Likely Scenario: Long positions above 1.4235 with targets @ 1.4325 & 1.4355 in extension.
Alternative scenario: Below 1.4235 look for further downside with 1.42 & 1.416 as targets.
Comment: The pair has struck against its resistance and is pulling back on its support ahead of a rebound.


GBP/USD intraday: rebound expected. Pivot: 1.5915
Most Likely Scenario: Long positions above 1.5915 with targets @ 1.601 & 1.604 in extension.
Alternative scenario: Below 1.5915 look for further downside with 1.5885 & 1.5825 as targets.
Comment: The pair stands above its support and should post a rebound.


USD/JPY intraday: the upside prevails. Pivot: 80.65
Most Likely Scenario: Long positions above 80.65 with targets @ 81 & 81.1 in extension.
Alternative scenario: Below 80.65 look for further downside with 80.5 & 80.35 as targets.
Comment: The pair is rebounding on its support as the RSI remains supported by a MT rising trend line.


AUD/USD intraday: intraday support around 1.0425. Pivot: 1.0425
Most Likely Scenario: Long positions above 1.0425 with targets @ 1.0485 & 1.052 in extension.
Alternative scenario: Below 1.0425 look for further downside with 1.039 & 1.036 as targets.
Comment: The pair is pulling back on its support ahead of a rebound.





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Forex Trading Signals June 28th 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails. Pivot: 1.4235.
Most Likely Scenario: LONG positions above 1.4235 with targets @ 1.4355 & 1.4425.
Alternative scenario: The downside penetration of 1.4235 will call for 1.42 & 1.416.
Comment: The pair has broken above its declining trend line and remains on the upside.
Trend: ST Ltd Upside; MT Range


GBP/USD intraday: caution. Pivot: 1.5915.
Most Likely Scenario: LONG positions above 1.5915 with 1.601 & 1.604 in sight.
Alternative scenario: The downside breakout of 1.5915 will open the way to 1.5885 & 1.5825.
Comment: The pair stands above its support but lacks upward momentum.


USD/JPY intraday: the upside prevails. Pivot: 80.65.
Most Likely Scenario: LONG positions above 80.65 with targets @ 81 & 81.1.
Alternative scenario: The downside penetration of 80.65 will call for 80.5 & 80.35.
Comment: The pair stands above its support and remains on the upside.


AUD/USD intraday: under pressure. Pivot: 1.0485
Most Likely Scenario: Short positions below 1.0485 with targets @ 1.0425 & 1.039 in extension.
Alternative scenario: Above 1.0485 look for further upside with 1.052 & 1.055 as targets.
Comment: The pair is posting a rebound but stands below its resistance, caution.





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