| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 21 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 is still trading in the narrow range between 1.1900 and 1.1930 since our morning edition.The key Support is now at 1.1900.Breaking may lead price lower towards 1.1850 and then 1.1780 short term down target.On the other side,while price is above 1.1900 there are chances of a rally towards 1.1980 first important Resistance with next targets at 1.2020 and 1.2060.Markets will expect FOMC Meeting publications from 31th January later today at 19:00 GMT.The best strategy to buy on a rally beyond 1.1930 or sell break below 1.1900.
Sell EUR/USD at 1.1895,Stop-loss-1.1930,Take profit-1.1850(1.1800)
Buy EUR/USD at 1.1930,Stop-loss-1.1895,Take profit-1.1980(1.2020)
FXDREAM GBP/USD
Date: Tue, 21 February 2006 13:10:02
Resistance levels: 1.7475-85/1.7520/1.7600
Support levels: 1.7400/1.7340/1.7300
GBP/USD rally during the European trading session and soon first 1.7475-85 Resistance may be tested.It is unlikely to be broken easy and price may stay ranged between 1.7400 key Support and 1.7480 Resistance.The medium term sentiment is neutral to bearish for the pair,so downmove towards 1.7310 is not ruled out too after FOMC publications later today.We prefer to stay aside for now.
Strategy-neutral.
FXDREAM USD/JPY
Date: Tue, 21 February 2006 13:10:02
Resistance levels: 118.85/119.40/120.00
Support levels: 118.15/117.50/117.10
USD/JPY rose towads 118.85 first Resistance as expected.Now if it is broken,we may see further rise towards 119.40 at least today.This may open territory for even further upmove towards 120.00.If,however,118.85 Resistance hold,fall back towards 118.15 key Support is not ruled out.We prefer to trail our Stop-loss in order to avoid losses.
Holding USD/JPY Long at 118.50,Stop-loss-118.45(up from 118.10),Take profit-119.35(119.85)
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