| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Fri, 6 February 2006 13:10:05
Resistance levels: 1.2020/1.2055/1.2115
Support levels: 1.1965-60/1.1930-25/1.1865
EUR/USD fell as expected on Friday after US Job Data below 1.2000.Our Short EUR/USD target at 1.1970 had been reached and we closed our Short at 1.2120 position with 150 pip profit.Now the pair meets very important Support at 1.1965.If it holds,we will look forward for correction up towards 1.2020 and even 1.2055.If however,it is broken,the next strong Support comes in the 1.1930-25 region.For now we will stay out of the market.
Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 6 February 2006 13:10:05
Resistance levels: 1.7585/1.7645/1.7720
Support levels: 1.7520/1.7480/1.7390
GBP/USD crashed on Friday and fell even below our down target at 1.7605.We released 135 pip profit on our Short GBP/USD at 1.7740 position.The pair fell further even below 1.7585 strong previous Support.Now if the price holds above 1.7520 crucial Support there are chances of a slight correction towards 1.7585 first Resistance and even 1.7645.If not,the next downside target stands at 1.7400-1.7390
Strategy-neutral.
FXDREAM USD/JPY
Date: Fri, 6 February 2006 13:10:05
Resistance levels: 119.50/120.00/120.40
Support levels: 118.30/117.80/117.30
USD/JPY rose and touched new highs at 119.42 on Friday.Now the pair meets first Support in the 118.45-30 region and new test of 119.40-50 high is not ruled out.If it is successful we may see sharp upmove towards 120.00.If not,we may see range trade between 119.45 and 118.30 in the next couples of days.
Strategy-neutral.
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