Daily Forex Market Analysis - 16 Jul 2008

Filed Under (Daily Forex Market Analysis) by Trader on 17-07-2008

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EUR/USD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot with possible target profit at the psychological resistance 1.6000, or sell the pair based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 1.5743 (H1 61.8% Fibo). For both cases, prices must be trendy and not choppy.

GBP/USD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 1.9961 (H1 38.2% Fibo) with possible target profit at 2.0150, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 1.9767. For both cases, prices must be trendy and not choppy.

USD/CHF

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 1.0141 (H1 38.2% Fibo) with possible target profit at 1.0000, or buy it based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot with possible target profit at 1.0330. For both cases, prices must be trendy and not choppy.

USD/JPY

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 105.00 (H1 23.6%Fibo) with possible target profit at 103.00, provided the global stock market is bearish, or buy it based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot with possible target profit at 108.30, provided the global stock market is bullish. 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 167.16 (H1 23.6% Fibo) with possible target profit at 165.15, or buy it based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot with possible target profit at 169.60. For both cases, prices must be trendy and not choppy.

USD/CAD

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 1.0021 (H1 23.6% Fibo) with possible target profit at 0.9900, or buy the pair once it has broken above the PIPS Weekly Pivot with possible target profit at 1.0177 (H1 100% Fibo). For both cases, prices must be trendy and not choppy.

AUD/USD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 0.9759 (H1 23.6% Fibo) with possible target profit at 0.9850, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 0.9545. For both cases, prices must be trendy and not choppy.

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