| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Fri, 11 August 2006 13:10:01
Resistance levels: 1.2800/1.2840/1.2910
Support levels: 1.2740/1.2720/1.2660
EUR/USD has remained range bound below 1.2800 first immediate Resistance ahead of US Retail Sales as it was suggested. Now markets are focused on US Retail Sales at 12:30 GMT. Later today a break below 1.2740 is likely to send price lower towards 1.2660 key Support level. On the other side, a rise above 1.2835-40 crucial Resistance area is needed for retest of 1.2900-10 previous highs.
Sell EUR/USD at 1.2750,Stop-loss-1.1.2785,Take profit-1.2700(1.2660)
FXDREAM GBP/USD
Date: Fri, 11 August 2006 13:10:01
Resistance levels: 1.8990/1.9050/1.9090
Support levels: 1.8915/1.8855/1.8770
GBP/USD has risen to 1.8980-90 first trend Resistance area earlier today. The next direction in short term will depends on US Retail Sales data in few minutes. On the upside, a break above 1.8980-90 area is needed as a sign for further rally towards 1.9055 and 1.9090 later today. On the other side, stronger than expected data from USA may turn price back towards 1.8860 key Support later today. In longer term, ss long as price is above 1.8855 the sentiment remains positive for test of 1.9225 next week. A break below 1.8860 on the other hand may send price lower to 1.8770 next week.
Strategy-neutral.)
FXDREAM USD/JPY
Date: Fri, 11 August 2006 13:10:01
Resistance levels: 116.05/116.40/116.80
Support levels: 115.60/115.10/114.65
USD/JPY has squeezed higher up towards 116.05-10 area in the last two trading sessions, but price has remained capped by 116.05 crucial Resistance ahead of US Data Release as it was suggested. After US Opening positive data from USA may take price higher towards 116.40 and 116.60 later today. On the other side, poor Retail Sales data may turn price back towards 115.10 first Support and even lower towards 114.65 yesterday lows in longer term.
Strategy-neutral.
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