Mar
07Daily Forex Market Analysis - 6 Mar 2008
Filed Under (Daily Forex Market Analysis) by Trader on 07-03-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
The pair looks toppish on the charts. We may cautiously look to buy based on TNT signal as long as the pair remains above the 1.5200 level, provided prices are trendy. Both our short-term price targets for this pair, 1.5000 and 1.5200, have been reached. Next price target is at 1.5500.
GBP/USD
We are looking to buy the pair based on TNT signal as long as it remains above the 1.9806 level, provided prices are trendy. Currently we have no short-term price target for this pair as we are adopting a neutral view on it.
USD/CHF
We are cautiously looking to sell the pair based on TNT signal as long as it 1.0425 and provided prices are trendy. The pair’s short-term price targets at 1.0800 and 1.0500 have been reached. The next price target is at 1.0300, followed by 1.0200.
USD/JPY
We are looking to sell the pair based on TNT signal as long as it remains below the PIPS Weekly Pivot, provided the global stock market is bearish and prices are trendy. Our short-term price targets at 105.00 and 103.00 have been reached with next price target at 100.00, followed by 95.00.
EUR/JPY
We are looking to buy the pair based on TNT signal as long as it remains above the PIPS Weekly Pivot, or sell based on TNT signal once it breaks below the PIPS Weekly Pivot. For both possible action, we need to ensure that prices are trendy. We are still reviewing the Short-Term Price Target for this pair.
USD/CAD
We are looking to sell the pair based on TNT signal as long as it remains below the PIPS Weekly Pivot, provided prices are trendy. Note that the medium-term price target for this pair is 0.9500, followed by 0.9000.
AUD/USD
We are looking to buy the pair once it breaks above the PIPS Weekly Pivot, provided prices are trendy. Note that the medium-term price target at 0.9400 has been reached. We now have 1.0000 as our long-term term price target.


























