| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 13 February 2006 13:10:03
Resistance levels: 1.1940-55/1.2000/1.2060
Support levels: 1.1865/1.1805/1.1775
EUR/USD renewed its downmove as expected in our morning edition.Soon first Support at 1.1865 may be reached.If it is broken,further downmove towards 1.1820 at least may be seen.First crucial Resistance comes in the 1.1940-55 region(100 Day MA).The sentiment today is still very bearish for the pair.We will hold our Short EUR/USD position with first target at 1.1865 and then 1.1820.
Holding EUR/USD Short at 1.1935,Stop-loss-1.1945(down from 1.1975),Take profit-1.1870(1.1820)
FXDREAM GBP/USD
Date: Mon, 13 February 2006 13:10:03
Resistance levels: 1.7435/1.7475/1.7520/1.7600
Support levels: 1.7380/1.7300
GBP/USD tested 1.7380-70 Support area as expected and bounced back up above 1.7400.If the Support is broken today,we expect sell off and dip towards 1.7300.If it,however,holds,there are chances of a slight rise back towards 1.7440 at least.We will trail our Stop-loss to our Short GBP/SD position in order to avoid losses.
Holding GBP/USD Short at 1.7425,Stop-loss-1.7440(down from 1.7475),Take profit-1.7310
FXDREAM USD/JPY
Date: Mon, 13 February 2006 13:10:03
Resistance levels: 118.35/119.00
Support levels: 117.50/116.80/116.00
USD/JPY tested 118.30 first Resistance ,but price stayed in the 117.50-118.30 range.While price is above 117.50 strong Support there are chances for a slight upmove higher towards 119.00-20 in the next couples of days.On the other side,fall below 117.50 may lead price lower towards 116.80 and 116.00 in medium term.We,however,prefer to stay out of the market for now.
Strategy-neutral.
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