Aug
22Daily Forex Market Analysis - 22 Aug 2008
Filed Under (Daily Forex Market Analysis) by Trader on 22-08-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
Based on the Fib Levels drawn from Aug 19 low to Aug 21 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above 1.4801 (382% Fib) with possible target profit at 1.5000, or
2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.4700.
For both cases, prices must be trendy and not choppy.
GBP/USD
Based on the Fib Levels drawn from Aug 20 low to Aug 21 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.8985, or
2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.8600.
For both cases, prices must be trendy and not choppy.
USD/CHF
Based on the Fib Levels drawn from Aug 20 high to Aug 21 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0800, followed by 1.0760, or
2. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.1100, followed by 1.1130.
For both cases, prices must be trendy and not choppy.
USD/JPY
Based on the Fib Levels drawn from Aug 20 high to Aug 21 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 108.63 (23.6% Fib) with possible target profit at 107.20, provided the global stock market is bearish, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 108.63 (23.6% Fib) with possible target profit at the PIPS Weekly Pivot, provided the global stock market is bullish.
For both cases, prices must be trendy and not choppy.
EUR/JPY
Based on the Fib Levels drawn from Aug 20 high to Aug 21 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 161.65 (61.8% Fib) with possible target profit at 160.00, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 161.65 (61.8% Fib) with possible target profit at the PIPS Weekly Pivot.
For both cases, prices must be trendy and not choppy.
USD/CAD
Based on the Fib Levels draw from Aug 20 high to Aug 21 low:
1. We are looking to sell the pair based on TNT (PIPS) signals below 1.0475 (23.6% Fib) with possible target profit at 1.0350, or
2. We are looking to buy the pair based on TNT (PIPS) signals above 1.0475 (23.6% Fib) with possible target profit at the PIPS Weekly Pivot.
For both cases, prices must be trendy and not choppy.
AUD/USD
Based on the Fib Levels drawn from Aug 19 low to Aug 21 high:
1. We are looking to buy the pair based on TNT (PIPS) signals above 0.8766 (23.6% Fib) with possible target profit at 0.8900, or
2. We are looking to sell the pair based on TNT (PIPS) signals below 0.8766 (23.6% Fib) with possible target profit at 0.8670, followed by 0.8590.
For both cases, prices must be trendy and not choppy.


























