Free Forex Signals 6 september 2012

EUR/USD intraday: the upside prevails.

Pivot: 1.2560.
Our Preference: LONG positions @ 1.257 with 1.263 & 1.2655 as next targets.
Alternative scenario: The downside penetration of 1.256 will call for a slide towards 1.252 & 1.249.
Comment: the pair remains on the upside and is challenging its resistance.



GBP/USD intraday: the upside prevails.

Pivot: 1.5850.
Our Preference: LONG positions above 1.585 with 1.593 & 1.595 in sight.
Alternative scenario: The downside penetration of 1.585 will call for a slide towards 1.582 & 1.5795.
Comment: the pair remains on the upside and stands above its support.


 USD/CHF intraday: under pressure.

Pivot: 0.96.
Our Preference: SHORT positions below 0.959 with 0.952 & 0.95 as next targets.
Alternative scenario: The upside penetration of 0.959 will call for a rebound towards 0.9615 & 0.9635.
Comment: the pair is rebounding and is approaching its next resistance.

USD/JPY intraday: the upside prevails.

Pivot: 78.20.
Our Preference: LONG positions above 78.2 with 78.55 & 78.65 as next targets.
Alternative scenario: The downside breakout of 78.2 will open the way to 78.1 & 78.
Comment: the pair stands above its support and remains on the upside.

 AUD/USD intraday: key ST resistance at 1.0225.

Pivot: 1.0225
Our preference: Short positions below 1.0225 with targets @ 1.016 & 1.0135 in extension.
Alternative scenario: Above 1.0225 look for further upside with 1.0255 & 1.0285 as targets.
Comment: as long as 1.0225 is resistance, look for choppy price action with a bearish bias.