Jun
21Daily Forex Market Analysis - 19 Jun 2008
Filed Under (Daily Forex Market Analysis) by Trader on 21-06-2008
Tagged Under : Forex Market Analysis, Market Commentary
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 1.5760, or sell the pair based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 1.5390. For both cases, prices must be 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 once it has broken below the PIPS Weekly Pivot with a possible profit target at 1.9410, or buy it based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot with possible target profit at 1.9820. For both cases, prices must be trend and not choppy. Watch out for key resistance at 1.9605 and key support at 1.9505.
USD/CHF
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 1.0300, or buy it based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot with possible target profit at 1.0500. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.0500 and key support at 1.0300.
USD/JPY
As currently the pair is moving within the range of 107.60 and 108.40, we shall avoid trading this pair for now unless we want to do range trading.
EUR/JPY
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 167.10 (H1 38.2%) provided the global stock market is bullish, 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 165.63. 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 1.0215 (H1 38.2%) with possible target profit at 1.0005, or buy it based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot with possible target profit at 1.0290. 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 the PIPS Weekly Pivot with possible target profit at 0.9495, or sell it based on TNT (PIPS) signals once it breaks below 0.9380 (H1 61.8%) with possible target profit at 0.9315. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 0.9495 and key support at 0.9315.


























