Daily Market Analysis - 18 Feb 2008

Filed Under (Daily Forex Market Analysis) by Trader on 18-02-2008

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EUR/USD

We are looking to buy the pair based on TNT signal as long as it remains above the PIPS Weekly Pivot at 1.4634. Our short-term price target for this pair is 1.5000.

GBP/USD

We are looking to buy the pair based on TNT signal provided the pair remains above the PIPS Weekly Pivot at 1.9574. It seems now that the pair may be gathering its bullish momentum to reverse its bearish trend as it seeks to re-test first the 1.9800 level and then the 2.000 level.

USD/CHF

We are looking to short the pair based on TNT signal as long as it remains below the PIPS Weekly Pivot at 1.0965. The pair’s short-term price target is at 1.0800, followed by 1.0500.

USD/JPY

We are looking to sell the pair based on TNT signal once it breaks below the PIPS Weekly Pivot at 107.63, provided the global stock market is bearish, which is likely to be so.

EUR/JPY

We are looking to sell the pair based on TNT signal once it breaks below the PIPS Weekly Pivot at 157.38, provided the global stock market is bearish.

USD/CAD

We are avoiding this pair for today. Note that the medium-term price target for this pair is 0.9500, followed by 0.9000.

AUD/USD

We are still looking to buy the pair based on TNT signal as long as it remains above the PIPS Weekly Pivot at 0.9048. The medium-term price target for this pair is 0.9400, followed by 1.0000 as its long-term price target.

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