Daily Forex Technical Analysis - Pre EU Open - 21st March 2014

EUR/USD Intraday: the downside prevails.
Pivot: 1.3845

Most Likely Scenario: Short positions below 1.3845 with targets @ 1.3745 & 1.3705 in extension.
Alternative scenario: Above 1.3845 look for further upside with 1.388 & 1.39 as targets.
Comment: the RSI lacks upward momentum. The intraday process of lower lows and lower tops is still in place. As a consequence, the intraday trend remains bearish.

Daily Forex Trading Signals 20th March 2014 (Pre-EU Market Open)

EUR/USD Intraday: the downside prevails.

Most Likely Scenario: Short positions below 1.39 with targets @ 1.378 & 1.374 in extension.

Alternative scenario: Above 1.39 look for further upside with 1.3935 & 1.3965 as targets.

Comment: the break below the support at 1.39 triggered a downward acceleration to 1.374. The RSI is capped by a declining trend line.

USD rebounds across the board as hedge funds add to long positions

Pairs like USD/CHF and USD/CAD are attracting hedge fund buying interest and all of the big Prime Brokers reported consistent USD buying from their big accounts. The GBP was the only one of the majors to hold its ground against the greenback, as it made back some lost ground on the crosses.

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.

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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EURUSD Testing 1.4125

The EURUSD pair is currently testing support at 1.4125 as the selling wave intensifies.
A breach of 1.4125 to the downside will open the way towards 1.4075, which is the next line of support.

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Forex Trading Signals June 15th 2011 (Pre- EU Market Open)

EUR/USD intraday: intraday support around 1.4375 Pivot: 1.4375.

Most Likely Scenario: LONG positions @ 1.4385 with 1.4455 & 1.45 in sight.

Alternative scenario: The downside penetration of 1.4375 will call for a slide towards 1.432 & 1.43.

Comment: The pair is pulling back on its new support ahead of further advance.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: rebound expected. Pivot: 1.6340.

Most Likely Scenario: LONG positions @ 1.635 with 1.64 & 1.642 in sight.

Alternative scenario: The downside breakout of 1.634 will open the way to 1.6315 & 1.6285.

Comment: The pair stands above its new support, the RSI lacks downward momentum.

USD/JPY intraday: rebound. Pivot: 80.30.

Most Likely Scenario: LONG positions @ 80.35 with targets @ 80.7 & 80.9.

Alternative scenario: The downside breakout of 80.3 will open the way to 80.1 & 80.

Comment: The pair is rebounding on its support, the RSI is well directed.

AUD/USD intraday: 1.0755 in sight. Pivot: 1.0655

Most Likely Scenario: Long positions above 1.0655 with targets @ 1.072 & 1.0755 in extension.

Alternative scenario: Below 1.0655 look for further downside with 1.063 & 1.06 as targets.

Comment: The pair is trading in an intraday bullish channel.

Forex Trading Signals June 9th 2011

EUR/USD intraday: the upside prevails. Pivot: 1.4555.

Most Likely Scenario: LONG positions @ 1.4565 with targets @ 1.464 & 1.47.

Alternative scenario: The downside breakout of 1.4555 will open the way to 1.452 & 1.445.

Comment: The RSI has broken above a declining trend line, the pair has rebounded on its support and remains on the upside.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: the upside prevails. Pivot: 1.6350.

Most Likely Scenario: LONG positions @ 1.636 with 1.646 & 1.65 as next targets.

Alternative scenario: The downside breakout of 1.635 will open the way to 1.631 & 1.6275.

Comment: The pair remains within a bullish channel.

USD/JPY intraday: rebound. Pivot: 79.85.

Most Likely Scenario: LONG positions @ 79.9 with 80.4 & 80.7 as next targets.

Alternative scenario: The downside breakout of 79.85 will open the way to 79.6 & 79.45.

Comment: The pair has broken above its channel upper boundary and should post a rebound.

AUD/USD intraday: the downside prevails. Pivot: 1.065

Most Likely Scenario: Short positions below 1.065 with targets @ 1.056 & 1.0545 in extension.

Alternative scenario: Above 1.065 look for further upside with 1.0685 & 1.072 as targets.

Comment: The pair is under pressure and is challenging its support.

Forex Trading Signals June 6th 2011 (Pre- EU Market Open)

EUR/USD intraday: the upside prevails. Pivot: 1.4580.

Most Likely Scenario: LONG positions @ 1.459 with targets @ 1.47 & 1.4755.

Alternative scenario: The downside breakout of 1.458 will open the way to 1.452 & 1.4445.

Comment: The pair should pull back on its intermediary support ahead of further up move.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: the upside prevails. Pivot: 1.6375.

Most Likely Scenario: LONG positions @ 1.6385 with 1.6475 & 1.6515 as next targets.

Alternative scenario: The downside breakout of 1.6375 will open the way to 1.6325 & 1.628.

Comment: The pair has struck against its resistance and is facing a pull back on its new support.

USD/JPY intraday: capped by a negative trend line. Pivot: 80.70.

Most Likely Scenario: SHORT positions @ 80.65 with 80.05 & 79.85 as next targets.

Alternative scenario: The upside penetration of 80.7 will call for a rebound towards 81 & 81.2.

Comment: The pair stands below its new resistance and remains under pressure.

AUD/USD intraday: the upside prevails. Pivot: 1.0675

Most Likely Scenario: Long positions above 1.0675 with targets @ 1.0775 & 1.08 in extension.

Alternative scenario: Below 1.0675 look for further downside with 1.0645 & 1.0595 as targets.

Comment: The pair is on the upside and is challenging its resistance, the RSI is mixed to bullish.

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

EUR/USD intraday: the upside prevails. Pivot: 1.4210.

Most Likely Scenario: LONG positions @ 1.422 with 1.435 & 1.4425 as next targets.

Alternative scenario: The downside penetration of 1.421 will call for a slide towards 1.415 & 1.4125.

Comment: the RSI is turning up, the pair stands above its support and should post a further up move.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: the upside prevails. Pivot: 1.6420

Most Likely Scenario: Long positions above 1.6420 with targets @ 1.6510 & 1.6545 in extension.

Alternative scenario: Below 1.6420 look for further downside with 1.6380 & 1.633 as targets.

Comment: the 50-simple MA maintains a bullish bias.

USD/JPY intraday: under pressure. Pivot: 81.30.

Most Likely Scenario: SHORT positions @ 81.25 with 80.7 & 80.5 in sight.

Alternative scenario: The upside penetration of 81.3 will call for a rebound towards 81.65 & 81.8.

Comment: the pair is on the downside and is approaching its previous low, the RSI is capped by a declining trend line.

AUD/USD intraday: caution. Pivot: 1.065

Most Likely Scenario: Long positions above 1.065 with targets @ 1.072 & 1.078 in extension.

Alternative scenario: Below 1.065 look for further downside with 1.0615 & 1.0585 as targets.

Comment: a support base at 1.065 has formed and has allowed for a temporary stabilisation.

Forex: Is risk on in Asia, Dollar dips

FXstreet.com (Barcelona) - The US Dollar is slipping throughout the market as risky bids take over, shrugging off recent concerns over Greece not getting additional aid from the IMF. Main rivals such as Euro, Pound or Australian Dollar are all picking up momentum to the upside.

EUR/USD has seen a run with conviction; taking off from an open at 1.4140, the pair is now trading at a session high of 1.4190. GBP/USD rallied past 1.6400 to peak at 1.6420 after UK consumer confidence rose the most in 18 years. AUD/USD has been taken above 1.0646, yesterday's high, while USD/JPY just touched new low at 81.00.

Looking at the EUR/USD pair, Sean Lee from Forexlive is confident that if it breaks above 1.4210 then he expects many shorts to start covering. "The high so far has been 1.4180 and the reports from the interbank market are that liquidity is poor" he said. A break above the aforementioned high would most likely lead other risky currencies to visit higher ground too.

Forex Trading Signals May 25th 2011 (Pre- EU Market Open)

EUR/USD intraday: the downside prevails. Pivot: 1.4085.

Most Likely Scenario: SHORT positions @ 1.4075 with 1.3965 & 1.3865 as next targets.

Alternative scenario: The upside breakout of 1.4085 will open the way to 1.4135 & 1.42.

Comment: The pair has broken below an intraday bullish channel support.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: the downside prevails. Pivot: 1.6200.

Most Likely Scenario: SHORT positions @ 1.619 with 1.6055 & 1.603 in sight.

Alternative scenario: The upside penetration of 1.62 will call for 1.6235 & 1.63.

Comment: the RSI is capped by a declining trend line.

USD/JPY intraday: testing the channel support. Pivot: 81.60.

Most Likely Scenario: LONG positions @ 81.7 with 82.1 & 82.25 in sight.

Alternative scenario: The downside breakout of 81.6 will open the way to 81.3 & 80.95.

Comment: The pair stands in a bullish channel.

AUD/USD intraday: the downside prevails.Pivot: 1.0535

Most Likely Scenario: Short positions below 1.0535 with targets @ 1.042 & 1.039 in extension.

Alternative scenario: Above 1.0535 look for further upside with 1.058 & 1.061 as targets.

Comment: The RSI is bearish and calls for further downside.

Forex Trading Signals May 24th 2011 (Pre- EU Market Open)

EUR/USD intraday: the downside prevails. Pivot: 1.4125.

Most Likely Scenario: SHORT positions @ 1.4115 with 1.3965 & 1.3865 as next targets.

Alternative scenario: The upside penetration of 1.4125 will call for 1.42 & 1.423.

Comment: The RSI is capped by a bearish trend line.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: the downside prevails. Pivot: 1.6180.

Most Likely Scenario: SHORT positions @ 1.617 with targets @ 1.6055 & 1.603.

Alternative scenario: The upside penetration of 1.618 will call for a rebound towards 1.6212 & 1.6235.

Comment: The RSI is capped by a declining trend line.

USD/JPY intraday: testing the channel support. Pivot: 81.55.

Most Likely Scenario: LONG positions @ 81.61 with 82.1 & 82.25 in sight.

Alternative scenario: The downside breakout of 81.55 will open the way to 81.3 & 80.95.

Comment: The pair stands in a bullish channel.

AUD/USD intraday: key ST resistance at 1.061. Pivot: 1.061

Most Likely Scenario: Short positions below 1.061 with targets @ 1.0475 & 1.042 in extension.

Alternative scenario: Above 1.061 look for further upside with 1.068 & 1.071 as targets.

Comment: The upward potential is likely to be limited by the resistance at 1.061.

Forex Trading Signals May 23rd 2011 (Pre- EU Market Open)

EURUSD Pivot: 1.4200.

Most Likely Scenario: SHORT positions @ 1.419 with 1.402 & 1.3955 as next targets.

Alternative scenario: The upside penetration of 1.42 will call for a rebound towards 1.43 & 1.434.

Comment: The break below 1.42 is a negative signal that has opened a path to 1.402.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: under pressure. Pivot: 1.6300.

Most Likely Scenario: SHORT positions @ 1.629 with 1.6165 & 1.613 as next targets.

Alternative scenario: The upside penetration of 1.63 will call for a rebound towards 1.6385 & 1.642.

Comment: The RSI is capped by a declining trend line.

USD/JPY intraday: the upside prevails. Pivot: 81.45.

Most Likely Scenario: LONG positions @ 81.55 with 82.25 & 82.6 as next targets.

Alternative scenario: The downside penetration of 81.45 will call for 81.2 & 80.95.

Comment: The pair stands in a bullish channel.

AUD/USD intraday: the downside prevails. Pivot: 1.061

Most Likely Scenario: Short positions below 1.061 with targets @ 1.0535 & 1.05 in extension.

Alternative scenario: Above 1.061 look for further upside with 1.072 & 1.0745 as targets.

Comment: The RSI calls for a new downleg.

Forex Trading Signals May 19th 2011 (Pre- EU Market Open)

EUR/USD intraday: further upside. Pivot: 1.4205.

Most Likely Scenario: LONG positions @ 1.4215 with targets @ 1.434 & 1.438.

Alternative scenario: The downside penetration of 1.4205 will call for a slide towards 1.4125 & 1.4085.

Comment: the pair has broken above its MT bearish channel upper boundary and remains on the upside.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: under pressure. Pivot: 1.6210.

Most Likely Scenario: SHORT positions @ 1.62 with targets @ 1.61 & 1.607.

Alternative scenario: The upside penetration of 1.621 will call for 1.6255 & 1.629.

Comment: the pair has struck against its resistance and should face further down move as the RSI is turning down.

USD/JPY intraday: the upside prevails. Pivot: 81.35.

Most Likely Scenario: LONG positions @ 81.4 with 81.8 & 81.95 in sight.

Alternative scenario: The downside breakout of 81.35 will open the way to 80.95 & 80.7.

Comment: the pair stands above its new support and remains on the upside.

AUD/USD intraday: intraday support around 1.0625. Pivot: 1.0625

Most Likely Scenario: Long positions above 1.0625 with targets @ 1.0715 & 1.075 in extension.

Alternative scenario: Below 1.0625 look for further downside with 1.057 & 1.0535 as targets.

Comment: the RSI is mixed with a bullish bias.

Forex Trading Signals May 10th 2011 (Pre- US Market Open)

EUR/USD intraday: further advance.

Pivot: 1.425

Most Likely Scenario: Long positions above 1.425 with targets @ 1.4445 & 1.451 in extension.

Alternative scenario: Below 1.425 look for further downside with 1.42 & 1.416 as targets.

Comment: the pair has broken above its declining trend line and should post further advance.

GBP/USD intraday: further advance.

Pivot: 1.6325

Most Likely Scenario: Long positions above 1.6325 with targets @ 1.6425 & 1.6465 in extension.

Alternative scenario: Below 1.6325 look for further downside with 1.6305 & 1.627 as targets.

Comment: the pair and its intraday RSI have broken above their declining trend lines.

USD/JPY intraday: under pressure.

Pivot: 80.85

Most Likely Scenario: Short positions below 80.85 with targets @ 80.5 & 80.15 in extension.

Alternative scenario: Above 80.85 look for further upside with 81.3 & 81.7 as targets.

Comment: the pair is challenging its new resistance.

AUD/USD intraday: the bias remains bullish.

Pivot: 1.0705

Most Likely Scenario: Long positions above 1.0705 with targets @ 1.0815 & 1.0875 in extension.

Alternative scenario: Below 1.0705 look for further downside with 1.0635 & 1.06 as targets.

Comment: the pair has rebounded on its support and is challenging its resistance.

Forex Trading Signals May 10th Pre-EU Market Open

EUR/USD intraday: the downside prevails. Pivot: 1.4445.
Most Likely Scenario: SHORT positions below 1.4445 with 1.425 & 1.416 in sight.
Alternative scenario: The upside penetration of 1.4445 will call for 1.451 & 1.4575.
Comment: the pair has broken below a ST rising trend line.
Trend: ST Ltd Upside; MT Range

GBP/USD intraday: continuation of the rebound. Pivot: 1.6350.
Most Likely Scenario: LONG positions @ 1.636 with 1.6435 & 1.6465 as next targets.
Alternative scenario: The downside penetration of 1.635 will call for 1.6305 & 1.627.
Comment: the pair has broken above a ST declining trend line.

USD/JPY intraday: capped by a negative trend line. Pivot: 80.85.
Most Likely Scenario: SHORT positions @ 80.75 with targets @ 80.15 & 79.85.
Alternative scenario: The upside breakout of 80.85 will open the way to 81.3 & 81.7.
Comment: the pair is capped by a declining trend line.

AUD/USD intraday: the bias remains bullish. Pivot: 1.0705
Most Likely Scenario: Long positions above 1.0705 with targets @ 1.0815 & 1.0875 in extension.
Alternative scenario: Below 1.0705 look for further downside with 1.0635 & 1.06 as targets.
Comment: the pair has struck against its resistance and is facing a pull back ahead of a rebound.

Forex Trading Signals May 6th 2011 (Pre- US Market Open)

EUR/USD intraday: the downside prevails. Pivot: 1.46

Most Likely Scenario: Short positions below 1.46 with targets @ 1.451 & 1.4455 in extension.

Alternative scenario: Above 1.46 look for further upside with 1.466 & 1.4715 as targets.

Comment: The pair remains under pressure and is challenging its support.

GBP/USD intraday: under pressure. Pivot: 1.6460

Most Likely Scenario: Short positions below 1.6460 with targets @ 1.6375 & 1.6325 in extension.

Alternative scenario: Above 1.6460 look for further upside with 1.6495 & 1.6545 as targets.

Comment: The pair stands below its new resistance and remains under pressure.

USD/JPY intraday: under pressure. Pivot: 80.7

Most Likely Scenario: Short positions below 80.7 with targets @ 80 & 79.55 in extension.

Alternative scenario: Above 80.7 look for further upside with 81 & 81.3 as targets.

Comment: The pair has struck against its bearish channel upper boundary and should face further weakness.

AUD/USD intraday: capped by a negative trend line. Pivot: 1.075

Most Likely Scenario: Short positions below 1.075 with targets @ 1.063 & 1.06 in extension.

Alternative scenario: Above 1.075 look for further upside with 1.0795 & 1.083 as targets.

Comment: The pair is posting a rebound but remains capped by a declining trend line.

Forex Trading Signals May 4th 2011 (Pre- US Market Open)

EUR/USD intraday: the upside prevails. Pivot: 1.477

Most Likely Scenario: Long positions above 1.477 with targets @ 1.489 & 1.495 in extension.

Alternative scenario: Below 1.477 look for further downside with 1.471 & 1.465 as targets.

Comment: the pair has rebounded on its support and is challenging its resistance.

GBP/USD intraday: rebound. Pivot: 1.645

Most Likely Scenario: Long positions above 1.645 with targets @ 1.6555 & 1.66 in extension.

Alternative scenario: Below 1.645 look for further downside with 1.6385 & 1.633 as targets.

Comment: the RSI has broken above a declining trend line, the pair is rebounding on its support and should post further advance.

USD/JPY intraday: under pressure. Pivot: 81.25

Most Likely Scenario: Short positions below 81.25 with targets @ 80.7 & 80.3 in extension.

Alternative scenario: Above 81.25 look for further upside with 81.45 & 81.7 as targets.

Comment: the pair stands below its new resistance and should face a weakness.

AUD/USD intraday: further advance. Pivot: 1.079

Most Likely Scenario: Long positions above 1.079 with targets @ 1.09 & 1.0935 in extension.

Alternative scenario: Below 1.079 look for further downside with 1.0725 & 1.0675 as targets.

Comment: the pair is challenging its bullish flag upper boundary, the RSI is well directed.

Forex Trading Signals May 4th 2011 (Pre- EU Market Open)

EUR/USD intraday: testing the channel support. Pivot: 1.4750.

Most Likely Scenario: LONG positions above 1.475 with 1.4845 & 1.489 as next targets.

Alternative scenario: The downside breakout of 1.475 will open the way to 1.471 & 1.465.

Comment: The pair is expected to bounce off its bearish channel support.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: under pressure. Pivot: 1.6555.

Most Likely Scenario: SHORT positions below 1.6555 with targets @ 1.643 & 1.6385.

Alternative scenario: The upside penetration of 1.6555 will call for 1.66 & 1.665.

Comment: The RSI is capped by a bearish trend line.

USD/JPY intraday: under pressure. Pivot: 81.25.

Most Likely Scenario: SHORT positions below 81.25 with 80.7 & 80.3 in sight.

Alternative scenario: The upside penetration of 81.25 will call for 81.45 & 81.7.

Comment: The RSI is capped by a bearish trend line.

AUD/USD intraday: the downside prevails. Pivot: 1.0875

Most Likely Scenario: Short positions below 1.0875 with targets @ 1.079 & 1.0725 in extension.

Alternative scenario: Above 1.0875 look for further upside with 1.0935 & 1.1015 as targets.

Comment: The pair remains under pressure and is approaching its support.