May
09Daily Forex Market Analysis - 7 May 2008
Filed Under (Daily Forex Market Analysis) by Trader on 09-05-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
We are looking to sell the pair based on TNT (PIPS) signals once it breaks below the PIPS Weekly Pivot, provided prices are trendy and not choppy. We may also look to buy based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot, provided prices are trendy and not choppy. The pair is seen undergoing a possible major downward retracement as it has broken the 1.5535 level on the Daily Chart. Next major support is at 1.5390, followed by 1.5170 on the Daily Chart.
GBP/USD
We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot, provided prices are trendy and not choppy, otherwise we may look to buy once it breaks above the PIPS Weekly Pivot. We see a possibility for the pair to retest the 1.9400 level.
USD/CHF
We are looking to buy the pair based on TNT (PIPS) signals as long at it remains above the PIPS Weekly Pivot, and vice versa, provided prices are trendy and not choppy.
USD/JPY
We are looking to buy the pair based on TNT (PIPS) signals once it breaks above the PIPS Weekly Pivot, provided the global stock market is bullish, and vice versa. For both cases, prices must be trendy and not choppy.
EUR/JPY
We are looking to buy the pair based on TNT (PIPS) signals, as long as it remains above the PIPS Weekly Pivot, provided prices are trendy and not choppy, and vice versa.
USD/CAD
We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below 1.0065, provided prices are trendy and not choppy, and vice versa.
AUD/USD
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above 0.9466 (High of May 5, 2008), provided prices are trendy and not choppy.


























