Daily Forex Market Analysis - 16 Jun 2008

Filed Under (Daily Forex Market Analysis) by Trader on 18-06-2008

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EUR/USD

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot with possible target profit at 1.5281, or buy the pair based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot with possible target profit at 1.5600. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.5390 and key support at 1.5281.

GBP/USD

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot with possible target profit at 1.9400, or buy it based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot with possible target profit at 1.9670. For both cases, prices must be trend and not choppy. Watch out for key resistance at 1.9670 and key support at 1.9400.

USD/CHF

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 1.0575, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 1.0300. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.0574 and key support at 1.0300.

USD/JPY

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot provided the global stock market is bullish with possible target profit at 108.40, or sell it based on TNT (PIPS) signals once the price has broken below the PIPS Weekly Pivot provided the global stock market is bearish with possible target profit at 106.30. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 108.40, followed by 105.50 and key support at 106.30.

EUR/JPY

We are avoiding this pair for today.

USD/CAD

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 1.0350, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 1.0200. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.0350 and key support at 1.0225.

AUD/USD

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot with possible target profit at 0.9315, followed by 0.9250, or buy it based on TNT (PIPS) signals once it breaks above the PIPS Weekly Pivot with possible target profit at 0.9500. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 0.9450 and key support at 0.9315.

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