Forex Trading Signals 11th April 2012 (Pre-EU Market Open)

EUR/USD INTRADAY: THE DOWNSIDE PREVAILS.
Pivot: 1.309
Most Likely Scenario: Short positions below 1.309 with targets @ 1.303 & 1.2995 in extension.
Alternative scenario: Above 1.309 look for further upside with 1.312 & 1.316 as targets.
Comment: the pair has validated a rising wedge and is posting a pull back on its new resistance ahead of further weakness.




GBP/USD INTRADAY: FURTHER ADVANCE.Pivot: 1.5285
Most Likely Scenario: Long positions above 1.5285 with targets @ 1.541 & 1.545 in extension.
Alternative scenario: Below 1.5285 look for further downside with 1.5245 & 1.521 as targets.
Comment: the pair is on the upside and is breaking above its resistance as the RSI is well directed.

USD/JPY INTRADAY: INTRADAY SUPPORT AROUND 98.9.Pivot: 98.9
Most Likely Scenario: Long positions above 98.9 with targets @ 100 & 100.8 in extension.
Alternative scenario: Below 98.9 look for further downside with 98 & 97.15 as targets.
Comment: the pair remains on the upside and is approaching its previous high.




AUD/USD INTRADAY: THE UPSIDE PREVAILS.Pivot: 1.05
Most Likely Scenario: Long positions above 1.05 with targets @ 1.058 & 1.06 in extension.
Alternative scenario: Below 1.05 look for further downside with 1.0465 & 1.0445 as targets.
Comment: the pair has broken above its previous high and should post further advance.




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