Apr
24Daily Forex Market Analysis - 24 Apr 2008
Filed Under (Daily Forex Market Analysis) by Trader on 24-04-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
We are looking to sell the pair based on TNT signals as long as it remains below the 1.5905 level, provided prices are trendy and not choppy. We may also look to buy based on TNT signals when the pair breaks above the 1.5905 level, provided prices are trendy and not choppy. The pair may attempt again to undergo a major downward retracement if it breaks below the 1.5760 level on the Daily Chart. Our price target of 1.6000 for the major up trend has been reached. Next price target is 1.6200, followed by 1.6500.
GBP/USD
We are looking to sell the pair based on TNT signals as long as it remains below the 1.9890 level, provided prices are trendy and not choppy, otherwise we may look to buy once it breaks above the 1.9890 level. We see a possibility for the pair to retest the 1.9400 level.
USD/CHF
We are looking to buy the pair based on TNT signals as long at it remains above the PIPS Weekly Pivot, and vice versa, provided prices are trendy and not choppy. The next price target for the major down-trend is at 0.9500.
USD/JPY
We are looking to buy the pair based on TNT signals as long as it remains above the PIPS Weekly Pivot, provided the global stock market is bullish, 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 staying away from this pair for today. We are still reviewing the Short-Term Price Target for this pair.
USD/CAD
We are looking to buy the pair as long as it remains above the 1.0140 level, provided prices are trendy and choppy, and vice versa. We are in the process of reviewing the short-term price target.
AUD/USD
We are looking to sell the pair based on TNT signals as long as it remains below the 0.9495 level, provided prices are trendy and not choppy, and vice versa. 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.
