Daily Forex Market Analysis - 4 Sept 2008

Filed Under (Daily Forex Market Analysis) by Trader on 04-09-2008

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EUR/USD

Based on the Fib Levels drawn from Aug 28 high to Sep 3 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 1.4485 (23.6% Fib Level) with possible target profit at 1.4385, followed by 1.4300, or

2. We are looking to buy the pair based on TNT (PIPS) signals above 1.4485 (23.6% Fib Level) with possible target profit at 1.4547, followed by 1.4600.

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

GBP/USD

Based on the Fib Levels drawn from Aug 29 high to Sep 3 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 1.7825 (23.6% Fib Level) with possible target profit at 1.7665, followed by 1.7600, or

2. We are looking to buy the pair based on TNT (PIPS) signals above 1.7825 (23.6% Fib Level) with possible target profit at 1.7924, followed by 1.8000.

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

USD/CHF

Based on the Fib Levels drawn from Aug 28 low to Sep 3 high:

1. We are looking to buy the pair based on TNT (PIPS) signals above 1.1040 with possible target profit at 1.1130, followed by 1.1200, or

2. We are looking to sell the pair based on TNT (PIPS) signals below 1.1040 with possible target profit at the PIPS Weekly Pivot.

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

USD/JPY

Based on the Fib Levels drawn from Aug 25 high to Sep 1 low:

1. We are looking to buy the pair based on TNT (PIPS) signals above 108.24 (23.6% Fib Level) with possible target profit at the PIPS Weekly Pivot, provided the global stock market is bullish, or

2. We are looking to sell the pair based on TNT (PIPS) signals below 108.24 (23.6% Fib Level) with possible target profit at 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 28 high to Sep 3 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 157.60 (23.6% Fib Level) with possible target profit at 156.25, followed by 156.00 and 155.00, or

2. We are looking to buy the pair based on TNT (PIPS) signals above 157.60 (23.6% Fib Level) with possible target profit at 158.50, followed by 159.12.

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

USD/CAD

Based on the Fib Levels draw from Aug 28 low to Sep 3 high:

1. We are looking to buy the pair based on TNT (PIPS) signals above the PIPS Weekly Pivot with possible target profit at 1.0700, followed by 1.0775, or

2. We are looking to sell the pair based on TNT (PIPS) signals below the PIPS Weekly Pivot with possible target profit at 1.0500, followed by 1.0470.

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

AUD/USD

Based on the Fib Levels drawn from Aug 28 high to Sep 3 low:

1. We are looking to sell the pair based on TNT (PIPS) signals below 0.8340 (23.6% Fib Level) with possible target profit at 0.8231, followed by 0.8200, or

2. We are looking to buy the pair based on TNT (PIPS) signals above 0.8340 (23.6% Fib Level) with possible target profit at 0.8461.

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

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