Apr
22Daily Forex Market Analysis - 21 Apr 2008
Filed Under (Daily Forex Market Analysis) by Trader on 22-04-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
We are looking to buy the pair based on TNT signals once it breaks above the 1.5845 level, provided prices are trendy and not choppy, and vice versa. The pair may attempt again to undergo a major downward retracement if it breaks below the 1.5760 level on the Daily Chart. Watch out for support at 1.5535, followed by 1.5390. Our next price target for the major up trend is at 1.6000, followed by 1.6200.
GBP/USD
We are looking to buy the pair based on TNT signals as long as it remains above the 1.9890 level, provided prices are trendy and not choppy, otherwise we may look to sell once it breaks below the 1.9890 level. We still see a possibility for the pair to retest the 1.9400 level if it fails to break above the 1.9932 level on the Daily Chart.
USD/CHF
We are looking to buy the pair based on TNT signals as long at it remains above the 1.0160 level on the Daily Chart, and vice versa, provided prices are trendy and not choppy. Watch out for resistance at the 1.0330 level. The next price target for the major down-trend is at 0.9500.
USD/JPY
We are looking to but the pair based on TNT signals as long as it remains above the 102.60 level, provided the global stock market is bullish, and vice versa. Watch out for key resistance at the 104.95 level. For both cases, prices must be trendy and not choppy. Our short-term price target for the major down-trend is 95.00.
EUR/JPY
We are looking to buy the pair as long as it remains above the 163.00 level, provided global stock market is bullish and prices are trendy and not choppy, and vice versa. We are still reviewing the Short-Term Price Target for this pair.
USD/CAD
We are staying away from this pair for today. We are in the process of reviewing the short-term price target.
AUD/USD
We are looking to buy the pair based on TNT signals as long as the pair remains above the 0.9330 level, provided prices are trendy and not choppy. Note that our short-term price target for the major up-trend at 0.9400 has been reached. We now have 1.0000 as our long-term term price target.
