| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 19 April 2006 13:10:02
Resistance levels:1.2365/1.2410/1.2485
Support levels: 1.2315/1.2280/1.2220
EUR/USD has stayed range bound between 1.2330 and 1.2370 after quiet morning European trading session. Markets are waiting for US CPI Release at 12:30 GMT. Increasing Core Inflation may lift EUR/USD towards 1.2410 next important up target. While price is above 1.2315-10 key Support there are chances of a further rise towards 1.2450 and higher in the next days. In longer term we may target new range between 1.2330-1.2550 for the upcoming weeks. On downside, correction to 1.2280 also is not ruled out as the pair seems to be in overbought territory already.
Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 19 April 2006 13:10:02
Resistance levels: 1.7890/1.7945/1.8020
Support levels: 1.7800/1.7750/1.7665
GBP/USD has risen slightly after Bank of England decision to remains the Interest rate unchanged at 4.50 %. Our Long position target at 1.7825 was touched. We have released 100 pip profit. Now the markets are focused at US CPI Index. Further upmove towards 1.7895 and then 1.7940 may be seen later today. There is immediate Support at 1.7800. Deeper correction to 1.7750 is not ruled out later today too.
Buy GBP/USD at 1.7840,Stop-loss-1.7800,Take profit-1.7895(1.7945)
FXDREAM USD/JPY
Date: Wed, 19 April 2006 13:10:02
Resistance levels: 117.50/118.30/118.90
Support levels: 116.70/116.20/115.45
USD/JPY has consolidated to 117.20 in the morning Europaen trade. The sentiment remains bearish for the pair and while price is below 117.50 there are chances of a further fall towards 116.30-20 region today. Around 117.20 level selling pressure may appear. In longer term breakout below 115.45 important level is required for another long term term downtrend. First Resistance comes in the 117.50-60 region
Strategy-neutral.
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