Daily Forex Market Analysis - 27 Aug 2008

Filed Under (Daily Forex Market Analysis) by Trader on 27-08-2008

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EUR/USD

Based on the Fib Levels drawn from Aug 21 high to Aug 26 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 1.4699 (38.2% Fib Level) with possible target profit at 1.4570, followed by 1.4500, or

2. We are looking to buy the pair based on TNT (PIPS) signals above 1.4699 (38.2% Fib Level) with possible target profit at the PIPS Weekly Pivot.

For both cases, prices must be trendy and not choppy.

GBP/USD

Based on the Fib Levels drawn from Aug 21 high to Aug 26 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 1.8439 (23.6% Fib Level) with possible target profit at 1.8330, followed by 1.8300 and 1.8200, or

2. We are looking to buy the pair based on TNT (PIPS) signals above 1.8439 (23.6% Fib Level) with possible target profit at the PIPS Weekly Pivot.

For both cases, prices must be trendy and not choppy.

USD/CHF

Based on the Fib Levels drawn from Aug 21 low to Aug 26 high:

1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.1100, followed by 1.1130 and 1.1200, or

2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0875, followed by 1.0840.

For both cases, prices must be trendy and not choppy.

USD/JPY

Based on the Fib Levels drawn from Aug 21 low to Aug 25 high:

1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 110.50, followed by 112.70, provided the global stock market is bullish, or

2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 108.30, followed by 107.20, provided the global stock market is bearish.

For both cases, prices must be trendy and not choppy.

EUR/JPY

Based on the Fib Levels drawn from Aug 22 high to Aug 26 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 161.13 (38.2% Fib Level) with possible target profit at 159.93, or

2. We are looking to buy the pair based on TNT (PIPS) signals above 161.13 (38.2% Fib Level) 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 19 high to Aug 22 low:

1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.0620, followed by 1.0685 and 1.0740, or

2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0410, followed by 1.0350.

For both cases, prices must be trendy and not choppy.

AUD/USD

Based on the Fib Levels drawn from Aug 21 high to Aug 26 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 0.8567 with possible target profit at 0.8500, followed by 0.8430, or

2. We are looking to buy the pair based on TNT (PIPS) signals above 0.8567 with possible target profit at the PIPS Weekly Pivot.

For both cases, prices must be trendy and not choppy.

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