Free Forex Signal 26/07/2012 Thursday, July 26, 2012

EUR/USD intraday: the upside prevails. Pivot: 1.219 Our preference: Long positions above 1.219 with targets @ 1.232 & 1.236 in extension. Alternative scenario: Below 1.219 look for further downside with 1.216 & 1.211 as targets. Comment: the RSI is bullish and calls for further upside.

USD/CAD intraday: under pressure. Pivot: 1.016 Our preference: Short positions below 1.016 with targets @ 1.006 & 1.002 in extension. Alternative scenario: Above 1.016 look for further upside with 1.02 & 1.023 as targets. Comment: the RSI is badly directed.

USD/JPY intraday: key ST resistance at 78.45. Pivot: 78.45 Our preference: Short positions below 78.45 with targets @ 77.9 & 77.75 in extension. Alternative scenario: Above 78.45 look for further upside with 78.65 & 78.8 as targets. Comment: the RSI lacks upward momentum.

AUD/USD intraday: the upside prevails. Pivot: 1.03 Our preference: Long positions above 1.03 with targets @ 1.0445 & 1.049 in extension. Alternative scenario: Below 1.03 look for further downside with 1.025 & 1.018 as targets. Comment: the RSI is bullish and calls for further upside.

GBP/USD intraday: further upside. Pivot: 1.555 Our preference: Long positions above 1.555 with targets @ 1.568 & 1.5715 in extension. Alternative scenario: Below 1.555 look for further downside with 1.547 & 1.5455 as targets. Comment: the break above the resistance at 1.555 triggered an upward acceleration to 1.568.

EUR/JPY intraday: further upside. Pivot: 95.2 Our preference: Long positions above 95.2 with targets @ 96.1 & 96.55 in extension. Alternative scenario: Below 95.2 look for further downside with 94.6 & 94.05 as targets. Comment: the break above the resistance at 95.2 triggered an upward acceleration to 96.1.