Jun
21Daily Forex Market Analysis - 20 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 buy the pair based on TNT (PIPS) signals as long as it remains above 1.9677 (H1 23.6%) with a possible profit target at 1.9820, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 1.9605. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.9820 and key support at 1.9670 followed by 1.9605.
USD/CHF
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the intra-day support at 1.0425 with possible target profit at 1.0500, or sell it based on TNT (PIPS) signals once it has broken below 1.0377 (H1 68.1%) possible target profit at 1.0300. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.0499 and key support at 1.0300.
USD/JPY
We are looking to buy the pair based on TNT (PIPS) signals once it as broken above 108.13 (H1 61.8%) with possible target profit at 108.97, provided the global stock market is bullish, or sell it based on TNT (PIPS) signals if it fails to break above 108.00 with possible target profit at the PIPS Weekly Pivot, provided the global stock market is bearish. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 108.40 and key support at 106.30.
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 1.0152 (H1 23.6%) with possible target profit at 1.0005. We are currently avoiding buying this pair. Please ensure that prices must be trendy and not choppy before opening any positions.
AUD/USD
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 0.9472 (H1 23.6%) with possible target profit at 0.9570, or sell it based on TNT (PIPS) signals once it breaks below 0.9398 (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 0.9570 and key support at 0.9315.


























