| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 14 August 2006 13:10:05
Resistance levels: 1.2780/1.2800/1.2840
Support levels: 1.2705/1.2660/1.2610
EUR/USD has fallen further down to 1.2705 earlier today( just a shy away from our first target at 1.2700). Lack of important fundamental news from USA later today may cause further downmove towards 1.2680 and 1.2660 later today. On the upside, if the immediate Support at 1.2705 holds, retreat back towards 1.2765 day highs is not ruled out later today. First strong Resistance comes in the 1.2780-1.2800 region. Stay Short for test of 1.2660 later today, trailing stop-loss order lower to 1.2765 day high.
Holding EUR/USD Short at 1.2750,Stop-loss-1.2770(down from 1.2785),Take profit-1.2700(1.2660)
FXDREAM GBP/USD
Date: Mon, 14 August 2006 13:10:05
Resistance levels: 1.8990/1.9050/1.9090
Support levels: 1.8915/1.8855/1.8770
GBP/USD has dropped further down to 1.8841 earlier today. The bias remains negative for the pair with further fall possible later today towards 1.8780-70 strong Support region. On the other side, first immediate Resistance comes around 1.8915 ahead of 1.8990 key one. Lack of data from USA today may mean range trade is likely to be seen later today. Look to sell upsticks for test of 1.8780-70 area.
Strategy-neutral.)
FXDREAM USD/JPY
Date: Mon, 14 August 2006 13:10:05
Resistance levels: 116.70/117.15/117.45
Support levels: 116.20/115.90/115.60
USD/JPY has squeezed higher towards 116.70 earlier today as it was suggested. As long as price is above 115.90 key Support the uptrend remains intact for the pair with next target at 117.15. On the downside, if the Resistance at 116.70 holds, retreat down towards 116.20-15 may be seen after US Opening. Stay aside for now.
Strategy-neutral.
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