Daily Forex Market Analysis - 20 Aug 2008

Filed Under (Daily Forex Market Analysis) by Trader on 20-08-2008

Tagged Under : ,


EUR/USD

Based on the Fib Levels drawn from Aug 14 high to Aug 19 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.4525, or

2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.4865.

For both cases, prices must be trendy and not choppy.

GBP/USD

Based on the Fib Levels drawn from Aug 13 high to Aug 15 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 1.8711 (38.2% Fib) with possible target profit at 1.8525, or

2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.8985.

For both cases, prices must be trendy and not choppy.

USD/CHF

Based on the Fib Levels drawn from Aug 14 low to Aug 19 high:

1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.1100, followed by 1.1130, or

2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0835.

For both cases, prices must be trendy and not choppy.

USD/JPY

Based on the Fib Levels drawn from Aug 13 low to Aug 15 high:

1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 110.30, followed by 111.00, provided the global stock market is bullish, or

2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 108.60, provided the global stock market is bearish.

For both cases, prices must be trendy and not choppy.

EUR/JPY

Based on the Fib Levels drawn from Aug 7 high to Aug 19 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 162.35 with possible target profit at 160.85, or

2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 164.00.

For both cases, prices must be trendy and not choppy.

USD/CAD

Based on the Fib Levels draw from Aug 4 low to Aug 12 high:

1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.0685, followed by 1.0740, or

2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0550.

For both cases, prices must be trendy and not choppy.

AUD/USD

Based on the Fib Levels drawn from Aug 4 high to Aug 13 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 0.8590, followed by 0.8500, or

2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 0.8785.

For both cases, prices must be trendy and not choppy.

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