Daily Forex Market Analysis - 3 Apr 2008

Filed Under (Daily Forex Market Analysis) by Trader on 03-04-2008

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EUR/USD

We are looking to sell the pair based on TNT signals as long as it remains below the PIPS Weekly Pivot, provided prices are trendy and not choppy, and vice versa. The pair is seen undergoing a major downward retracement. Our next price target for the major trend 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 1.9890 level, provided prices are trendy and not choppy, and vice versa. We see a possibility for the pair to return to test the 1.9400 level.

USD/CHF

We are looking to buy the pair based on TNT signals as long as it remains above the 1.0050 level and vice versa, provided prices are trendy and not choppy. The pair is seen undergoing a major upward retracement. The next price target for the major trend is at 0.9500.

USD/JPY

We are looking to buy the pair based on TNT signals as long as it remains above the 101.40 level, provided the global stock market is bullish, and vice versa. For both cases, prices must be trendy and not choppy. Our short-term price targets for the major trend is 95.00.

EUR/JPY

We are looking to buy the pair based on TNT signals as long as it remains above the 159.75 level. We are still reviewing the Short-Term Price Target for this pair.

USD/CAD

We may attempt to sell the pair based on TNT signals as long as it remains below the PIPS Weekly Pivot. We are in the process of reviewing the short-term price target.

AUD/USD

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. Note that our short-term price target for the major trend at 0.9400 has been reached. We now have 1.0000 as our long-term term price target.

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