May
19Daily Forex Market Analysis - 19 May 2008
Filed Under (Daily Forex Market Analysis) by Trader on 19-05-2008
Tagged Under : Forex Market Analysis, Market Commentary
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 1.5760 and key support at 1.5535.
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 breaks below the PIPS Weekly Pivot. For both cases, prices must be trend and not choppy. Watch out for key resistance at 1.9578 followed by 1.9605 and key support at 1.9505 followed by 1.9445.
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.
USD/JPY
We are looking to buy the pair based on TNT (PIPS) signals as long as it remains above the PIPS Weekly Pivot provided the global stock market is bullish, or sell it based on TNT (PIPS) signals once the price breaks below the PIPS Weekly Pivot provided the global stock market is bearish. 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 it has broken 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 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 1.0005 and key support at 0.9935.
AUD/USD
We are looking to sell the pair based on TNT (PIPS) signals as long as it remains below the PIPS Weekly Pivot, or buy the pair if it breaks above the PIPS Weekly Pivot. For both cases, prices must be trendy and not choppy. Watch out for key support at 0.9495.
