Please Help, loud squeeling sound

[j3ss319]

i have a 1994 bmw 318i and a few weeks ago it started making this high pitch squeeling sound. Only when the engine is running but it does it if im in park or driving. Its constant everytime i turn it on. My friend said he thinks its the pully probly the one by the alternator. My dad thinks its the water pump. I am not sure what it is but i need to fix it ASAP an order teh parts for it. so if anyone knows what the problem is or has had it before please help thanks

[j3ss319]

please anyone?

[witeshark]

Both of those are possible. Only someone at the car can tell.

[GGH]

Remove the fan belt and start the engine,no noise! spin the alternator for noise,next the water pump, P/S pump? GGH