| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 5 April 2006 13:10:01
Resistance levels:1.2270/1.2320/1.2410
Support levels: 1.2225/1.2170/1.2110
EUR/USD has stayed in narrow range in the morning european trading.The sentiment looks neutral.While price is above 1.2040 overnight low,there are still cahnces of a test of 1.2320 up target.Breakout further may lead price higher to 1.240-10 tomorrow.On the other side,fall below 1.2140 may cause deeper corective move down to 1.2170 key Support.In longer term,the market attention will be concentarted on US Jobless data on Friday.
Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 5 April 2006 13:10:01
Resistance levels: 1.7550/1.7620/1.7665
Support levels: 1.7480/1.7420
GBP/USD has recovered deeply below 1.7520 previous first Support unsuccessful test of 1.7620-30 highs earlier today.Convergation on 15 minutes oscillators have been seen,that was sign for deeper correction towards 1.7480 at least( 38.2% Fibonacci retracement from the last upwave).Fall below 1.7480 may turn price back to 1.7415 in the next couples od days ahead of Jobless data from USA on Friday.Unfortunately,our Long position was stopped at 1.7550 with small 40 pip loss.
Strategy-neutral.
FXDREAM USD/JPY
Date: Wed, 5 April 2006 13:10:01
Resistance levels:117.90/118.70
Support levels: 116.60/116.00/115.45
USD/JPY has found strong Support around 116.60 earlier today and price has bounced higher towards 117.70.Our Short position was stopped 20 pips away from its first target at 116.40 to be reached.We have released small 30 pip loss.Now the sentiment looks positive and further upmove towards 117.90 first important Resistance is likely to be seen till the end of the day.On the other side,there is immediate Support at 117.25-20.
Strategy-neutral.
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