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.

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

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

Most Likely Scenario: Long positions above 1.477 with targets @ 1.488 & 1.493 in extension.

Alternative scenario: Below 1.477 look for further downside with 1.471 & 1.4655 as targets.

Comment: The pair remains on the upside and is approaching its previous high.

GBP/USD intraday: under pressure. Pivot: 1.67

Most Likely Scenario: Short positions below 1.67 with targets @ 1.662 & 1.6575 in extension.

Alternative scenario: Above 1.67 look for further upside with 1.6750 & 1.68 as targets.

Comment: The pair has struck against its resistance and should face further down move.

USD/JPY intraday: under pressure. Pivot: 82

Most Likely Scenario: Short positions below 82 with targets @ 81.25 & 80.9 in extension.

Alternative scenario: Above 82 look for further upside with 82.45 & 82.75 as targets.

Comment: The RSI is mixed to bearish, the pair is under pressure and is challenging its new support.

AUD/USD intraday: bullish bias above 1.085. Pivot: 1.085

Most Likely Scenario: Long positions above 1.085 with targets @ 1.095 & 1.1 in extension.

Alternative scenario: Below 1.085 look for further downside with 1.078 & 1.0715 as targets.

Comment: The pair remains on the upside and is challenging its resistance.

Forex Trading Signals April 29th 2011 (Pre- EU Market Open)

EUR/USD intraday: further upside. Pivot: 1.4770.

Most Likely Scenario: LONG positions above 1.477 with 1.488 & 1.493 in sight.

Alternative scenario: The downside penetration of 1.477 will call for 1.4685 & 1.464.

Comment: The immediate trend remains up and the momentum is strong.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: caution. Pivot: 1.6700.

Most Likely Scenario: SHORT positions below 1.67 with targets @ 1.662 & 1.6575.

Alternative scenario: The upside penetration of 1.67 will call for 1.675 & 1.68.

Comment: The upward potential is likely to be limited by the resistance at 1.67.

USD/JPY intraday: under pressure. Pivot: 82.00.

Most Likely Scenario: SHORT positions below 82 with 81.25 & 80.9 in sight.

Alternative scenario: The upside penetration of 82 will call for 82.45 & 82.75.

Comment: The RSI lacks upward momentum.

AUD/USD intraday: bullish bias above 1.085. Pivot: 1.085

Most Likely Scenario: Long positions above 1.085 with targets @ 1.095 & 1.1 in extension.

Alternative scenario: Below 1.085 look for further downside with 1.078 & 1.0715 as targets.

Comment: The pair stands above its support and should post a rebound.

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

EUR/USD intraday: further advance. Pivot: 1.477

Most Likely Scenario: Long positions above 1.477 with targets @ 1.494 & 1.499 in extension.

Alternative scenario: Below 1.477 look for further downside with 1.47 & 1.4655 as targets.

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

GBP/USD intraday: the upside prevails. Pivot: 1.6635

Most Likely Scenario: Long positions above 1.6635 with targets @ 1.675 & 1.68 in extension.

Alternative scenario: Below 1.6635 look for further downside with 1.6575 & 1.653 as targets.

Comment: The pair is pulling back on its support ahead of a rebound.

USD/JPY intraday: under pressure. Pivot: 82.1

Most Likely Scenario: Short positions below 82.1 with targets @ 81.5 & 81.25 in extension.

Alternative scenario: Above 82.1 look for further upside with 82.45 & 82.75 as targets.

Comment: The RSI is badly directed, the pair is under pressure and is challenging its new support.

AUD/USD intraday: further advance. Pivot: 1.084

Most Likely Scenario: Long positions above 1.084 with targets @ 1.0955 & 1.1 in extension.

Alternative scenario: Below 1.084 look for further downside with 1.078 & 1.0715 as targets.

Comment: The pair remains on the upside and should post further advance as the RSI is well directed.

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

EUR/USD intraday: further upside.Pivot: 1.4770.

Most Likely Scenario: LONG positions above 1.477 with 1.494 & 1.499 in sight.

Alternative scenario: The downside penetration of 1.477 will call for a slide towards 1.47 & 1.4655.

Comment: The immediate trend remains up and the momentum is strong.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: towards 1.68 Pivot: 1.6635.

Most Likely Scenario: LONG positions above 1.6635 with 1.675 & 1.68 in sight.

Alternative scenario: The downside breakout of 1.6635 will open the way to 1.6575 & 1.653.

Comment: The RSI is bullish and calls for further upside.

USD/JPY intraday: under pressure. Pivot: 82.25.

Most Likely Scenario: SHORT positions below 82.25 with 81.6 & 81.25 as next targets.

Alternative scenario: The upside penetration of 82.25 will call for 82.45 & 82.75.

Comment: The RSI is mixed to bearish.

AUD/USD intraday: further advance. Pivot: 1.084

Most Likely Scenario: Long positions above 1.084 with targets @ 1.0955 & 1.1 in extension.

Alternative scenario: Below 1.084 look for further downside with 1.078 & 1.0715 as targets.

Comment: The pair remains on the upside and should post further advance as the RSI is well directed.

Forex Trading Signals April 21st 2011 (Pre- EU Market Open)

EUR/USD intraday Pivot: 1.4500.

Most Likely Scenario: LONG positions @ 1.451 with 1.459 & 1.463 as next targets.

Alternative scenario: The downside penetration of 1.45 will call for 1.4445 & 1.4415.

Comment: The pair has rebounded on its support and remains on the upside.

Trend: ST Ltd Upside; MT Range

GBP/USD intraday: supported by a rising trend line.

Pivot: 1.6385.

Most Likely Scenario: LONG positions @ 1.6395 with targets @ 1.6475 & 1.65.

Alternative scenario: The downside penetration of 1.6385 will call for a slide towards 1.635 & 1.631.

Comment: The pair remains within a bullish channel and is challenging its previous high.

USD/JPY intraday: under pressure.

Pivot: 82.60.

Most Likely Scenario: SHORT positions @ 82.55 with 82 & 81.75 in sight.

Alternative scenario: The upside penetration of 82.6 will call for 82.8 & 83.15.

AUD/USD intraday

Pivot: 1.0695

Most Likely Scenario: Long positions above 1.0695 with targets @ 1.08 & 1.0825 in extension.

Alternative scenario: Below 1.0695 look for further downside with 1.065 & 1.0575 as targets.

Forex: USD/CHF extends slide to fresh lows

FXstreet.com (Córdoba) – The Swiss Franc continues its rally against the Dollar. The USD/CHF fell further below 0.8900 and reached a new all time low at 0.8878. The pair remains trading near session low, holding a bearish bias. Greenback is headed toward the tenth daily decline out of the last 12 trading days.

The recovery of the Dollar earlier found resistance at 0.8930 and the pair resumed its downtrend as the Swissy strengthened across the board.

To the downside, support levels could be located at 0.8860 and below at 0.8820 while to the upside, probable resistance levels lie at 0.8890 and above at 0.8930 and 0.8965.