| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 20 February 2006 13:10:02
Resistance levels: 1.1980/1.2020/1.2060/1.2115
Support levels: 1.1900/1.1850-45/1.1805
EUR/USD found Resistance at 1.1980 and price fell back to 1.1930 level from Friday.Today range trading between 1.1920-00 and 1.1980 is expecting as US Markets are closed.The markets will look forward to more volatility tomorrow with the FOMC meeting.Fall below 1.1900 may turn 1.1800 down target back again in view.On the other side.the up target is at 1.2060 as limit swing level.Tomorrow we may try buying on dips.
Holding EUR/USD at 1.1950,Stop-loss-1.1920,Take profit-1.2000(1.2050)
FXDREAM GBP/USD
Date: Mon, 20 February 2006 13:10:02
Resistance levels: 1.7475-85/1.7520/1.7600
Support levels: 1.7400/1.7340/1.7300
GBP/USD is trading in very undefined directions today between 1.7450 and 1.7400 first Support.We will review our hope for rise towards 1.7520 today and we will cancel our limit Long order at 1.7450.Now there are equal chances of a slight fall below 1.7400 or rise above 1.7450.Eventual rise,however,may be limited to 1.7485 strong Resistance.We prefer to stay out of the market for now.
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 20 February 2006 13:10:02
Resistance levels: 118.50/119.00/119.40
Support levels: 118.00-117.90/117.50/117.10
USD/JPY continues trading in very narrow ranges between 118.00 and 118.50.There are equal chances of a rise above 1.1850 first Resistance or downmove below 1.1800 towards 117.50 .More action may be seen during the Asian trading session.For now we will stay away as US markets are closed and quiet next several hours are more probable.
Strategy-neutral.
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