Apr
10Daily Forex Market Analysis - 10 Apr 2008
Filed Under (Daily Forex Market Analysis) by Trader on 10-04-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
We are looking to buy the pair based on TNT signals as long as it remains above the PIPS Weekly Pivot, provided prices are trendy and not choppy, and vice versa. The pair has failed in its attempt to undergo a major downward retracement. Our next price target for the major up trend is at 1.6000, followed by 1.6200.
GBP/USD
We are looking to sell the pair based on TNT signals as long as it remains below the 1.9790 level (High of April 9, 2008), provided prices are trendy and not choppy, and vice versa. We see a possibility for the pair to retest the 1.9400 level.
USD/CHF
We are looking to sell the pair based on TNT signals as long as it remains below the PIPS Weekly Pivot and vice versa, provided prices are trendy and not choppy. The pair is seen retesting the critical 1.0000 level. The next price target for the major down-trend is at 0.9500.
USD/JPY
We are looking to sell the pair based on TNT signals as long as it remains below the 102.00 level, provided the global stock market is bearish, and vice versa. For both cases, prices must be trendy and not choppy. The pair is seen to retest the 101.35 level on the Weekly Chart. Our short-term price target for the major down-trend is 95.00.
EUR/JPY
We are looking to buy the pair based on TNT signals as long as it remains above the 161.00 level, provided prices are trendy and not choppy. We are still reviewing the Short-Term Price Target for this pair.
USD/CAD
We are looking to buy the pair based on TNT signals as long as it remains above the PIPS Weekly Pivot, and vice versa, provided prices are trendy and not choppy. We are in the process of reviewing the short-term price target.
AUD/USD
We are looking to buy the pair based on TNT signals as long as it remains above the 0.9230 level, provided prices are trendy and not choppy. Note that our short-term price target for the major up-trend at 0.9400 has been reached. We now have 1.0000 as our long-term term price target.
