| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Thu, 23 February 2006 13:10:03
Resistance levels: 1.1980/1.2020/1.2060
Support levels: 1.1915/1.1855/1.1805/1.1775
EUR/USD has risen as suggested towards 1.1950 100 Day MA and further towards 1.1970-80 first Resistance.Now if 1.1980 is broken later today,we may see further rise towards 1.2020 today and 1.2115 in medium term.On the other side,turning back in the 1.1900-1.1945 range is possible,if US Initial Jobless Claims numbers are better than expected.We will stay out for now as we have Long GBP/USD position already.
Strategy-neutral.
FXDREAM GBP/USD
Date: Thu, 23 February 2006 13:10:03
Resistance levels: 1.7575/1.7600
Support levels: 1.7500/ 1.7445/1.7370
GBP/USD rose as expected and reached our target at 1.7520.We closed our GBP/USD Long position with 75 pip profit.Now the pair meets immediate Support in the 1.7500-1.7490 area.While price is above these levels there are chances of further upmove towards 1.7575 at least today.Watch carefully for US Data at 13;30 GMT.
Strategy-neutral.
FXDREAM USD/JPY
Date: Thu, 23 February 2006 13:10:03
Resistance levels: 117.40/117.80/118.15
Support levels: 116.60/116.00
USD/JPY found further sell off during the morning european trading session too and price dropped down towards 117.00-116.90.Our Long position was stopped at 117.30 with small 30 pip loss.Now price seems to be in oversold territory and we will try to buy hoping for a correction towards 117.60 at least.
Buy USD/JPY at 117.00,Stop-loss-116.70,Take profit-117.60(117.80)
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