Feb
23Daily Market Analysis - 22 Feb 2008
Filed Under (Daily Forex Market Analysis) by Trader on 23-02-2008
Tagged Under : Forex Market Analysis, Market Commentary
EUR/USD
We are looking to buy the pair based on TNT signal on a downward retracement to between 1.4750 and 1.4810. But do be very careful of the strong resistance at 1.4865. The short-term price target for this pair is 1.5000.
GBP/USD
We are looking to buy the pair based on TNT signal as long as it remains above the PIPS Weekly Pivot. However, we may also sell the pair based on TNT signal once it breaks below the 1.9550 level.
USD/CHF
We are looking to sell the pair on rebound based on TNT signal as long as it remains below the previous day low at 1.0935. 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 as long as it remains below the PIPS Weekly Pivot at 107.63, provided the global stock market is bearish.
EUR/JPY
We are staying away from this pair for today as it is still experiencing a tug of war between EUR and JPY.
USD/CAD
We are staying away from this pair for now. Note that the medium-term price target for this pair is 0.9500, followed by 0.9000.
AUD/USD
We are staying away from this pair for today. Note that the medium-term price target for this pair is 0.9400, followed by 1.0000 as its long-term term price target.
