| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 1 February 2006 13:10:05
Resistance levels: 1.2150/1.2225/1.2320
Support levels: 1.2060/ 1.2005-00/1.1930
EUR/USD fluctuated in the two directions before and after the FOMC Desicion yesterday.Everything about interest rates will depend on the next meeting at the end of the month and especially on the Friday Job data in USA.Price rose yesterday to 1.2090( 50% retracement).Now the pair meets strong Resistance at 1.2150(200 day-MA) and further downmove may be seen later today.The downmove target is at 1.2060 with next one at 1.2000.Only rise back above 1.2150 may negate this scenario.
Sell EUR/USD at 1.2120,Stop-loss-1.2158,Take profit-1.2060(1.2010)
FXDREAM GBP/USD
Date: Wed, 1 February 2006 13:10:04
Resistance levels: 1.7860/1.7900/1.7935
Support levels: 1.7720/1.7680/1.7605
GBP/USD was the winner yesterday.The pair broke the previous key Resistance at 1.7810 and climbed to 1.7860.Now the pair may turn back towards 1.7720 but we do not expect so volatile market as yesteday.The key Support is at 1.7680.We prefer stay out of the market as we alredy have Short EUR/USD position.
Strategy-neutral.
FXDREAM USD/JPY
Date: Wed, 1 February 2006 13:10:03
Resistance levels: 117.85/118.15/118.50
Support levels: 117.00/116.55/116.00
USD/JPY fell as expected towards 116.60 and reached 116.66.We closed our USD/JPY Short position at 116.75 with small 75 pip profit.Now the pair meets first Resistance at 117.75-80 previous high and stronger one at 118.10 If the Resistance is broken,it may unlock further upmove towards 119.00 till the end of the week.On the other side,there is strong Support at 117.00 and 116.55.
Strategy-neutral.
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