Daily Forex Market Analysis - 25 Mar 2008

Filed Under (Daily Forex Market Analysis) by Trader on 25-03-2008

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EUR/USD

The pair looks toppish on the charts. We are looking to sell the pair based on TNT signals as long as it remains below the PIPS Weekly Pivot. However, if the pair breaks above the PIPS Weekly Pivot, we may look to buy the pair based on TNT signals for small profit. For both cases, prices must be trendy and not choppy. Our next price target is at 1.6000, followed by 1.6200 and 1.6500.

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 must be trendy and not choppy. We are presently reviewing our short-term price target.

USD/CHF

We are looking to buy the pair based on TNT signals as long as it remains above the 1.0050 level, or sell the pair if it breaks below the 1.0050 level based on TNT signals. For both cases, prices must be trendy and not choppy. The next price target is at 0.9500.

USD/JPY

We are looking to buy the pair based on TNT signals as long as it remains above the 99.75 level, provided the global stock market is bullish, and prices are trendy and not choppy. Our short-term price targets at 100.00 and 98.00 have been reached. Our next price target is 95.00.

EUR/JPY

We are looking to buy the pair based on TNT signals as long as it remains above the PIPS Weekly Pivot, provided prices are trendy and not choppy. We are still reviewing the Short-Term Price Target for this pair.

USD/CAD

We are looking to buy the pair based on TNT signals as long as it remains above the PIPS Weekly Pivot, and vice versa. Note that the medium-term price target for this pair is 0.9500, followed by 0.9000.

AUD/USD

We are looking to buy the pair based on TNT signals once it breaks above the PIPS Weekly Pivot, provided prices are trendy and not choppy, or sell the pair if it remains below the PIPS Weekly Pivot. Note that our short-term price target at 0.9400 has been reached. We now have 1.0000 as our long-term term price target.

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