Daily Forex Market Analysis - 14 Apr 2008

Filed Under (Daily Forex Market Analysis) by Trader on 14-04-2008

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EUR/USD

We are looking to sell the pair based on TNT signals once it breaks below the PIPS Weekly Pivot, provided prices are trendy and not choppy, and vice versa. The pair may attempt again to undergo a major downward retracement. Watch out for support at 1.5535, followed by 1.5390. 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 PIPS Weekly Pivot, 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 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. Watch out for resistance at the 1.0160 level. The pair may undergo another round of major upward retracement. 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 PIPS Weekly Pivot, provided the global stock market is bearish, and vice versa. Watch out for resistance at 101.70 and support at 100.72. For both cases, prices must be trendy and not choppy. Our short-term price target for the major down-trend is 95.00.

EUR/JPY

We are looking to sell the pair as long as it remains below the Weekly PIPS Pivot, provided global stock market is bearish and prices are trendy and not choppy, and vice versa. We are still reviewing the Short-Term Price Target for this pair.

USD/CAD

We are staying away from this pair for today. We are in the process of reviewing the short-term price target.

AUD/USD

We are looking to sell the pair based on TNT signals once it breaks below the Weekly PIPS Pivot, provided prices are trendy and not choppy, and vice versa. Watch out for support at 0.9210. 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.

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