| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 8 February 2006 13:10:05
Resistance levels: 1.2020/1.2055/1.2115
Support levels: 1.1940-35/1.1900/1.1865/1.1780
EUR/USD is trading in very narrow ranges between 1.1990 and 1.1940 crucial Support.If the 1.1940-35 area is broken later today or tomorrow we may see another downwave towards 1.1870-65.Only rise back above 1.2055 may reverse the bearish sentiment.We will try selling with tight stop-loss just below the 1.1940 crucial level.
Sell EUR/USD at 1.1935,Stop-loss-1.1980,Take profit-1.1870(1.1810)
FXDREAM GBP/USD
Date:Wed, 8 February 2006 13:10:05
Resistance levels: 1.7465-70/1.7520/1.7600
Support levels: 1.7390/1.7335/1.7290
GBP/USD fell as expected below 1.7400 and reached our target at 1.7400 yesterday.We closed part of our GBP/USD Short position at 1.7400 with 120 pip profit.Now the pair may test 1.7465-75 Resistance area before the next downmove towards 1.7390 and 1.7335.The sentiment remains negative for the pair.The key Support is at 1.7390.
Holding GBP/USD Short at 1.7520,Stop-loss-1.7475(down from 1.7520),Take profit-1.7350.
FXDREAM USD/JPY
Date: Wed, 8 February 2006 13:10:05
Resistance levels: 118.60/119.40/120.00
Support levels: 117.60/117.05/116.60
USD/JPY recovered back above 118.00 and soon the important 118.55-65 Resistance area may be tested.If It holds,there are chances of a fall back below 118.00 towards 117.60 and lower.If,however,it is broken,the next target is at 119.40.Our Short position is not squared yet.
Holding USD/JPY at 118.15,Stop-loss-118.55,Take profit-117.60(117.15)
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