May
31Daily Forex Market Analysis - 29 May 2008
Filed Under (Daily Forex Market Analysis) by Trader on 31-05-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 1.5688 (H1 38.2% Fibo), or buy the pair based on TNT (PIPS) signals once it has broken above 1.5737 (H1 61.8% Fibo). For both cases, prices must be trendy and not choppy. Watch out for key support at 1.5535.
GBP/USD
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot. For both cases, prices must be trend and not choppy. Watch out for key resistance at 1.9820 and key support at 1.9670.
USD/CHF
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 1.0349 (H1 38.2% Fibo), or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.0499 and key support at 1.0160.
USD/JPY
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 104.48 (H1 38.2% Fibo) provided the global stock market is bullish, or sell it based on TNT (PIPS) signals once the price has broken below 104.48 (H1 38.2% Fibo) provided the global stock market is bearish. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 104.95, followed by 105.50 and key support at 103.00.
EUR/JPY
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 163.60 (H1 50.0% Fibo), or sell it based on TNT (PIPS) signals once the price breaks below 163.40 (H1 61.8% Fibo). For both cases, prices must be trendy and not choppy. Watch out for key resistance at 164.00 and key support at 161.98.
USD/CAD
We are looking to sell the pair based on TNT (PIPS) signals as long as it below the PIPS Weekly Pivot, or buy it based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 0.9935 and key support at 0.9805, followed by 0.9795.
AUD/USD
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 0.9617 (H1 23.6% Fibo), or sell it based on TNT (PIPS) signals once it breaks below the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 0.9650 and key support at 0.9570, followed by 0.9495.


























