| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 26 April 2006 13:10:01
Resistance levels: 1.2445/1.2485/1.2550
Support levels: 1.2365/1.2335/1.2308
EUR/USD has stayed above 1.2390 first immediate Support during the morning European trade. Now markets are focused on US Durable Goods and Home sales later today. Strong data are expected from USA, that may strenghten the US Dollar for a test of 1.2365 key Support later today. If it is broken, price may reach 1.2330 next important level. in longer term ,however, the sentiment remains positive for the pair and rise towards 1.2450 and 1.2485 may be seen too. We will try to buy on dips with target at 1.2480.
Buy EUR/USD at 1.2365,Stop-loss-1.2330,Take profit-1.2440(1.2480)
FXDREAM GBP/USD
Date: Wed, 26 April 2006 13:10:01
Resistance levels: 1.7929/1.7945/1.8020
Support levels: 1.7805/1.7750/1.7710
GBP/USD has dropped after UK GDP Release earlier today and price has reached 1.7805 lows. In short term there are equal chances of further fall towards 1.7755 or a rally up towards 1.7905 and 1.7930. More clearance in the short term direction may be seen later today after US Data Release. In longer term, however, we favour the bullish bias with target up towards 1.8000-20 region.
Strategy-neutral.
FXDREAM USD/JPY
Date: Wed, 26 April 2006 13:10:01
Resistance levels: 115.45/115.90/116.35
Support levels: 114.55/114.15/113.80
USD/JPY has climbed higher to 115.30 after purchases from Japanese funds. It may be temporary and we may see sharp fall again towards 114.20 and 113.80 final down target. Around 115.45-50 the pair meets strong Resistance. If, it is broken, price may squeeze higher to 115.80-90 region.
Holding USD/JPY Short at 115.15,Stop-loss-115.50, Take profit-114.25(113.90)
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