Aug
30Daily Forex Market Analysis - 29 Aug 2008
Filed Under (Daily Forex Market Analysis) by Trader on 30-08-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
Based on the Fib Levels drawn from Aug 21 high to Aug 26 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 1.4739 (50% Fib Level) with possible target profit at 1.4650, followed by 1.4570 and 1.4500, or
2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.4865, followed by 1.4900.
For both cases, prices must be trendy and not choppy.
GBP/USD
Based on the Fib Levels drawn from Aug 21 high to Aug 28 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 1.8370 (23.6% Fib Level) with possible target profit at 1.8200, followed by 1.8150, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 1.8370 (23.6% Fib Level) with possible target profit at 1.8450 followed by 1.8500.
For both cases, prices must be trendy and not choppy.
USD/CHF
Based on the Fib Levels drawn from Aug 21 low to Aug 26 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.1100, followed by 1.1130 and 1.1200, or
2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0875, followed by 1.0840.
For both cases, prices must be trendy and not choppy.
USD/JPY
Based on the Fib Levels drawn from Aug 21 low to Aug 25 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 110.50, followed by 112.70, provided the global stock market is bullish, or
2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 108.60, followed by 108.30 and 107.20, provided the global stock market is bearish.
For both cases, prices must be trendy and not choppy.
EUR/JPY
Based on the Fib Levels drawn from Aug 22 high to Aug 26 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 161.51 (50.0% Fib Level) with possible target profit at 160.00, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 161.51 (50.0% Fib Level) with possible target profit at the PIPS Weekly Pivot.
For both cases, prices must be trendy and not choppy.
USD/CAD
Based on the Fib Levels draw from Aug 19 high to Aug 22 low:
1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.0560, followed by 1.0620, or
2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0410, followed by 1.0350.
For both cases, prices must be trendy and not choppy.
AUD/USD
Based on the Fib Levels drawn from Aug 21 high to Aug 26 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 0.8640 with possible target profit at 0.8500, followed by 0.8430, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 0.8640 with possible target profit at the PIPS Weekly Pivot.
For both cases, prices must be trendy and not choppy.




















