Sep
20Daily Forex Market Analysis - 19 Sept 08
Filed Under (Daily Forex Market Analysis) by Trader on 20-09-2008
Tagged Under : Forex Market Analysis, Market Commentary
Below is an extract of the daily Forex Market Analysis Report that Clarence Chee sent out to his Forex Trading students on the morning of 19 Sept 2008 regarding the outlook of the Forex market and his trading plan for the day.
EUR/USD
Based on the Fib Levels drawn from Sep 16 low to Sep 18 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above 1.4306 (50% Fib Level), with possible target profit at 1.4430, followed by 1.4540, or
2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot, with possible target profit at 1.4110, followed by 1.4090, 1.4070 and 1.3970.
For both cases, prices must be trendy and not choppy.
GBP/USD
Based on the Fib Levels drawn from Sep 11 low to Sep 18 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above 1.8084 (23.6% Fib Level), with possible target profit at 1.8200, followed by 1.8276, or
2. We are looking to sell the pair based on TNT (PIPS) signals below 1.8084 (23.6% Fib Level), with possible target profit at the PIPS Weekly Pivot, followed by 1.7734.
For both cases, prices must be trendy and not choppy.
USD/CHF
Based on the Fib Levels drawn from Sep 15 high to Sep 16 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 1.1084 (50% Fib Level), with possible target profit at 1.1000, followed by 1.0980 and 1.0900, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 1.1084 (50% Fib Level), with possible target profit at 1.1175, followed by 1.1233 and 1.1277.
For both cases, prices must be trendy and not choppy.
USD/JPY
Based on the Fib Levels drawn from Sep 12 high to Sep 16 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 105.70 (50% Fib Level), with possible target profit at 104.00, followed by 103.50 and 103.00, provided the global stock market is bearish, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 105.70 (50% Fib Level), with possible target profit at 106.87, followed by 107.20, provided the global stock market is bullish.
For both cases, prices must be trendy and not choppy.
EUR/JPY
Based on the Fib Levels drawn from Sep 16 low to Sep 18 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 150.08 (38.2% Fib Level), with possible target profit at 148.90, followed by 148.40 and 147.60, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 150.08 (38.2% Fib Level), with possible target profit at 151.95, followed by 152.26.
For both cases, prices must be trendy and not choppy.
USD/CAD
Based on the Fib Levels draw from Sep 17 high to Sep 18 low:
1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot, with possible target profit at 1.0741, followed by 1.0819, or
2. We are looking to sell the pair based on TNT (PIPS) signals below 1.0630 (23.6% Fib Level), with possible target profit at 1.0560, followed by 1.0496.
For both cases, prices must be trendy and not choppy.
AUD/USD
Based on the Fib Levels drawn from Sep 15 high to Sep 17 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 0.8084 (61.8% Fib Level), with possible target profit at 0.7935, followed by 0.7870 and 0.7799, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 0.8084 (61.8% Fib Level), with possible target profit 0.8164, followed by 0.8200.
For both cases, prices must be trendy and not choppy.




















