Aug
12Daily Forex Market Analysis - 12 Aug 2008
Filed Under (Daily Forex Market Analysis) by Trader on 12-08-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
Based on the Fib Levels drawn from Aug 4 high to Aug 11 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 1.5057 (23.6% Fib) with possible target profit at 1.4825, or
2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.5170.
For both cases, prices must be trendy and not choppy.
GBP/USD
Based on the Fib Levels drawn from Aug 4 high to Aug 11 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 1.9228 (23.6% Fib) with possible target profit at 1.9000, or
2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.9360.
For both cases, prices must be trendy and not choppy.
USD/CHF
Based on the Fib Levels drawn from Aug 4 low to Aug 11 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above 1.0755 (23.6% Fib) with possible target profit at 1.0850, followed by 1.1103, or
2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0680.
For both cases, prices must be trendy and not choppy.
USD/JPY
Based on the Fib Levels drawn from Aug 1 low to Aug 11 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above 109.65 (23.6% Fib) with possible target profit at 111.00, 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 109.66, followed by 108.30, 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 7 high to Aug 11 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 163.00, followed by 162.61, or
2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 167.10.
For both cases, prices must be trendy and not choppy.
USD/CAD
Based on the Fib Levels draw from Aug 4 low to Aug 11 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above 1.0608 with possible target profit at 1.0741, followed by 1.0800, or
2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0470.
For both cases, prices must be trendy and not choppy.
AUD/USD
Based on the Fib Levels drawn from Aug 4 high to Aug 11 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 0.8921 (23.6% Fib) with possible target profit at 0.8700, followed by 0.8600, or
2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 0.9015, followed by 0.9088.
For both cases, prices must be trendy and not choppy.


























