| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Fri, 21 April 2006 13:10:01
Resistance levels:1.2345/1.2370/1.2410
Support levels: 1.2270/1.2240/1.2200
EUR/USD is consolidating between 1.2270 overnight low and 1.2345 ( 50% Fibonacci retracement of 1.2393-1.2770 previous down wave). While price is below 1.2345 in short term there is risk of a fall towards 1.2220. The markets are focused on G7 Meeting in Washington, so pair may stay between 1.2345 and 1.2270 strong Support today. We prefer to stay away as today is Friday.
Strategy-neutral.
Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 21 April 2006 13:10:01
Resistance levels: 1.7843/1.7890/1.7935
Support levels: 1.7750/1.7710/1.7665
GBP/USD has bounced from 1.7750 strong Support earlier today . Today quiet market with price between 1.7750 key Support and 1.7840-45 first important Resistance area may be seen. In longer term the sentiment remains positive and further upmove towards 1.7935 again and even 1.8020 may be seen next week. Eventual fall below 1.7750 today may extend the downmove to 1.7710.
Strategy-neutral.
FXDREAM USD/JPY
Date: Fri, 21 April 2006 13:10:01
Resistance levels: 117.90/118.30/118.90
Support levels: 117.10/116.70/116.20
USD/JPY has dropped below 117.40 during the morning European trade. Now the pair meets immediate Support at 117.10. The maximum down level for today is at 116.70. The most probable scenario is for range trade between 117.10-117.90 ahead of G7 Meeting in order Japan to avoid European criticism against weak Japanese currency.
Strategy-neutral.
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