Daily Forex Market Analysis - 24 Jul 2008

Filed Under (Daily Forex Market Analysis) by Trader on 25-07-2008

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EUR/USD

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 1.5756 (H1 23.6% Fib) with possible target profit at 1.5618 followed by 1.5535, or buy the pair based on TNT (PIPS) signals once it has broken above 1.5756 (H1 23.6% Fib) with possible target profit at the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy.

GBP/USD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot with possible target profit at 2.0070, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 1.9900. For both cases, prices must be trendy and not choppy.

USD/CHF

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 1.0307 (H1 23.6% Fib) with possible target profit at 1.0500, or sell it based on TNT (PIPS) signals once it has broken below 1.0307 (H1 23.6% Fibo) with possible target profit at the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy.

USD/JPY

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 107.45 with possible target profit at 108.97, provided the global stock market is bullish, or sell it based on TNT (PIPS) signals once it has broken below 107.45 with possible target profit at the PIPS Weekly Pivot, provided the global stock market is bearish. For both cases, prices must be trendy and not choppy.

EUR/JPY

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 168.85 (H1 23.6% Fib) with possible target profit at 170.25, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot with possible target profit at 167.43. For both cases, prices must be trendy and not choppy.

USD/CAD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 1.0082 (H1 23.6% Fib) with possible target profit at 1.0216, or sell the pair once it has broken 1.0082 (H1 23.6% Fib) with possible target profit at 1.0028. For both cases, prices must be trendy and not choppy.

AUD/USD

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 0.9654 (H1 23.6% Fib) with possible target profit at 0.9570, or buy it based on TNT (PIPS) signals once it has broken above 0.9654 (H1 23.6% Fib) with possible target profit at the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy.

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