Daily Forex Market Analysis - 12 May 2008

Filed Under (Daily Forex Market Analysis) by Trader on 12-05-2008

Tagged Under : ,


EUR/USD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot, provided prices are trendy and not choppy. We may also look to sell based on TNT (PIPS) signals once it breaks below the PIPS Weekly Pivot, provided prices are trendy and not choppy. Watch out for key resistance at 1.5535 and key support at 1.5390.

GBP/USD

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot, provided prices are trendy and not choppy, otherwise we may look to buy once it breaks above the PIPS Weekly Pivot. 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 (PIPS) signals as long at it remains below the PIPS Weekly Pivot, and vice versa, provided both prices are trendy and not choppy.

USD/JPY

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot, provided the global stock market is bearish, and vice versa. For both cases, prices must be trendy and not choppy.

EUR/JPY

We are looking to sell the pair based on TNT (PIPS) signals, as long as it remains below the PIPS Weekly Pivot, provided prices are trendy and not choppy, and vice versa.

USD/CAD

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot, provided prices are trendy and not choppy, and vice versa.

AUD/USD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot, provided prices are trendy and not choppy, and vice versa.

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