Feb
28Daily Forex Market Analysis - 28 Feb 2008
Filed Under (Daily Forex Market Analysis) by Trader on 28-02-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
We are expecting some profit-taking today. So we are looking to buy the pair based on TNT signal as long as it remains above the 1.5043 level. Our short-term price target for this pair is 1.5000 has been reached. Next price target is at 1.5200, followed by 1.5500.
GBP/USD
We are avoiding this pair for today. However, we are expecting the pair to continue to move upward but with weak momentum.
USD/CHF
We are looking to sell the pair based on TNT signal as long as it remains below the 1.0680 level. The pair’s short-term price target at 1.0800 has been reached. The next price target is at 1.0500.
USD/JPY
We are looking to sell the pair based on TNT signal as long as it remains below the 106.75 level, provided the global stock market is bearish, or vice versa. Our short-term price target is at 105.00.
EUR/JPY
We are staying away from this pair for today.
USD/CAD
We are looking to sell the pair based on TNT signal provided it remains below the 0.9985 level and prices are trendy. Note that the medium-term price target for this pair is 0.9500, followed by 0.9000.
AUD/USD
We are expecting some profit-taking today. Nevertheless, we are still looking to buy the pair based on TNT signal as long as it remains above the 0.9347 level (Tuesday’s high) and prices are trendy. Note that the medium-term price target at 0.9400 has been reached. We now have 1.0000 as our long-term term price target.
