| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 25 July 2006 13:10:01
Resistance levels: 1.2660/1.2710/1.2780
Support levels: 1.2605/1.2585/1.2540
EUR/USD has retreat down to 1.2629 after quiet morning European trading. Markets are waiting for US Consumer Confidence and Existing Home Sales at 14:00 GMT. A break above 1.2660-65 area is needed as a sign for retest of 1.2707 previous highs later today, that is likely to open territory for further rally towards 1.2775-80 region in near term. On downside, first Support lies at 1.2605 ahead of 1.2585 key one. Look to buy on a break above 1.2665 region again or above 1.2707 for test of 1.2775-80 region. On downside, fall towards 1.2585 key Support is not ruled after positive data from USA later today.
Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 25 July 2006 13:10:01
Resistance levels: 1.8540/1.8600/1.8650
Support levels: 1.8480/1.8450/1.8415
GBP/USD has eased down to 1.8480 first Support after London Opening earlier today. As long as price is above 1.8480-70 first Support there are chances of retest of 1.8600 previous highs and 1.8640 later today. A break above 1.8540 first crucial Resistance may be sign for such a scenario. On downside, better than expected US Data later today may push price lower towards 1.8425-15 area. Look to buy on breakout above 1.8540 for test of 1.8640. As soon as price reaches 1.8595-1.8600 previous highs, trail stop-loss higher to entry price.
Buy GBP/USD at 1.8540,Stop-loss-1.8505,Take profit-1.8600(1.8640)
FXDREAM USD/JPY
Date: Tue, 25 July 2006 13:10:01
Resistance levels: 117.20/117.90/118.40
Support levels: 116.50/115.75/115.10
No change in our view since the last report after quiet morning European trade today. Price has remained ranged between 116.50 and 117.00. On upside, first Resistance lies in the 117.15-20 region. A break above is likely to signal for further upmove towards 117.90 previous highs later today. On downside, as long as price is below 117.15 there are chances of a break below 116.50 first Support for test of 116.00 and 115.80 Friday lows.
Strategy-neutral.
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