May
24Daily Forex Market Analysis - 23 May 2008
Filed Under (Daily Forex Market Analysis) by Trader on 24-05-2008
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 1.5688 (H1 38.2%), or sell the pair based on TNT (PIPS) signals once it has broken below 1.5640. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.5760 and key support at 1.5535.
GBP/USD
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 1.9750, or sell it based on TNT (PIPS) signals once it has broken below 1.9734 (May 22, 2008 Low). For both cases, prices must be trend and not choppy. Watch out for key resistance at 1.9820 and key support at 1.9670.
USD/CHF
We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 1.0330, or buy it based on TNT (PIPS) signals once it has broken above 1.0330. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.0500 and key support at 1.0160.
USD/JPY
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot provided the global stock market is bullish, or sell it based on TNT (PIPS) signals once the price breaks below 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 104.95 and key support at 103.00.
EUR/JPY
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 163.28 (H1 23.6%), or sell it based on TNT (PIPS) signals once the price breaks below 163.14 (May 22, 2008 High). For both cases, prices must be trendy and not choppy. Watch out for key resistance at 164.00 and key support at 161.98.
USD/CAD
We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 0.9885 (H1 23.6% Fibo). We will avoid buying the pair for today. Prices must be trendy and not choppy. Watch out for key resistance at 0.9935 and key support at 0.9805, followed by 0.9795.
AUD/USD
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 0.9562, or sell it based on TNT (PIPS) signals once it breaks below 0.9562 (H1 61.8%). For both cases, prices must be trendy and not choppy. Watch out for key support at 0.9495.
