| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 7 February 2006 13:10:05
Resistance levels: 1.2020/1.2055/1.2115
Support levels: 1.1930-25/1.1865/1.1780
EUR/USD is trading in narrow range from yesterday.Today also narrow range between 1.2020 first Resistance and 1.1930 cricial Support may be seen,as market is waiting for now important data today.The upside target remains at 1.2055 strong Resistance level.On downside the pair may meet 1.1930 strong Support.breaking may lead price lower towards 1.1865.But it is not likely to be broken today.We will stay waiting for better opportunities.
Strategy-neutral.
Strategy-neutral.
FXDREAM GBP/USD
Date:Tue, 7 February 2006 13:10:05
Resistance levels: 1.7520/1.7570/1.7610
Support levels: 1.7440-25/1.7390/1.7295
GBP/USD fell below 1.7520 previuos important level as expected and dipped towards 1.7390 downside target.Now the pair meets slight Support around previous low in the 1.7440-1.7425 area.It is likely to be broken and price below 1.7400 is not ruled out.Only rise back above 1.7520 may turn the short term bearish sentiment.We will trail our stop-loss order at 1.7520 in order to avoid losses.
Holding GBP/USD Short at 1.7520,Stop-loss-1.7520(down from 1.7570,Take profit-1.7400(1.7350)
FXDREAM USD/JPY
Date: Tue, 7 February 2006 13:10:05
Resistance levels: 118.15/118.75/119.45
Support levels: 117.60/117.05/116.60
USD/JPY fell in deep correction and reached 117.60 low.Now the pair is recovering towards 118.15 first Resistance.There are no good chance of breaking and we expect the downmove to keep on with next target at 117.10-05.There is strong Resistance at 118.75.
Sell USD/JPY at 118.15,Stop-loss-118.55,Take profit-117.15(116.70)
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