| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 24 July 2006 13:10:01
Resistance levels: 1.2705/1.2730/1.2780
Support levels: 1.2620/1.2585/1.2540
EUR/USD has eased down to 1.2609 in the early morning trade after reaching 1.2707 high on Friday(just a shy away from our second target at 1.2720). Part of the Long position at 1.2600 has been closed at 1.2680 for 80 pip profit. The second part has been stopped at 1.2620 earlier today for small 20 pip profit. The sentiment remains positive in longer term as a break above 1.2660 is likely to indicate further upmove for retest of 1.2707 previous highs and higher to 1.2730. In longer term, 1.2780 target may be set. The key Support lies at 1.2585. Look to buy on breakout above 1.2660 for test of 1.2730 and 1.2780 in the next trading sessions.
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 24 July 2006 13:10:01
Resistance levels: 1.8550/1.8600/1.8650
Support levels: 1.8480/1.8450/1.8415
GBP/USD has found Support in the 1.8480-70 region earlier today. In longer term the bias remains bullish for test of 1.8760 later this week. A break above 1.8550 immediate Resistance is needed to confirm retest of 1.8600 and higher towards 1.8640 in near term. As long as price is below 1.8550, there is risk of another retest of 1.8470-50 Support area later today.
Buy GBP/USD at 1.8545,Stop-loss-1.8510,Take-profit-1.8600(1.8645)
FXDREAM USD/JPY
Date: Mon, 24 July 2006 13:10:01
Resistance levels: 117.20/117.90/118.40
Support levels: 116.40/115.75/115.10
USD/JPY has remained ranged between 116.40 first immediate Support and below 117.15-20 first crucial Resistance region earlier today as it was suggested. As long as price is below 117.15 there are chances of a break below 116.40 later today for test of 116.00 and 115.80 Friday lows. Stay aside for now.
Strategy-neutral.
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