Daily Forex Market Analysis - 22 Apr 2008

Filed Under (Daily Forex Market Analysis) by Trader on 24-04-2008

Tagged Under : ,


EUR/USD

We are looking to buy the pair based on TNT signals as long as it remains above the 1.5845 level, provided prices are trendy and not choppy. We may also look to sell based on TNT signals when the pair breaks below the PIPS Weekly Pivot, provided prices are trendy and not choppy. The pair may attempt again to undergo a major downward retracement if it breaks below the .5760 level on the Daily Chart. Our next price target for the major up trend is at 1.6000, followed by 1.6200.

GBP/USD

We are looking to sell the pair based on TNT signals as long as it remains below the PIPS Weekly Pivot, provided prices are trendy and not choppy, otherwise we may look to buy once it breaks above the PIPS Weekly Pivot. We see a possibility for the pair to retest the 1.9400 level.

USD/CHF

We are looking to sell the pair based on TNT signals as long at it remains below the PIPS Weekly Pivot, and vice versa, provided prices are trendy and not choppy. The next price target for the major downtrend is at 0.9500.

USD/JPY

We are looking to sell the pair based on TNT signals once it breaks below the PIPS Weekly Pivot,
provided the global stock market is bearish, and vice versa. 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 163.80 level, provided 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 0.9375 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.

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