Daily Forex Market Analysis - 27 May 2008

Filed Under (Daily Forex Market Analysis) by Trader on 27-05-2008

Tagged Under : ,


EUR/USD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot, or sell the pair based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.6000 and key support at 1.5760.

GBP/USD

We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot, or sell it based on TNT (PIPS) signals once it has broken below the PIPS Weekly Pivot. 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 the PIPS Weekly Pivot, or buy it based on TNT (PIPS) signals once it has broken above the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 1.0329 and key support at 1.0160.

USD/JPY

We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot provided the global stock market is bearish, or buy it based on TNT (PIPS) signals once the price breaks above the PIPS Weekly Pivot provided the global stock market is bullish. 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 the PIPS Weekly Pivot, or sell it based on TNT (PIPS) signals once the price breaks below the PIPS Weekly Pivot. 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 buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot, or sell it based on TNT (PIPS) signals once the price breaks below the PIPS Weekly Pivot. For both cases, 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 the PIPS Weekly Pivot, or sell it based on TNT (PIPS) signals once it breaks below the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy. Watch out for key resistance at 0.9650 and key support at 0.9570.

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