| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 20 June 2006 13:10:01
Resistance levels: 1.2618/1.2652/1.2672
Support levels: 1.2552/1.2530/1.2470
EUR/USD has dropped towards 1.2552 yesterday low and later today further fall towards 1.2530 is likely to be seen. The bias remains negative as long as price is below 1.2618 first crucial Resistance. A break below 1.2530 will open territory for further fall towards 1.2410 later this week. On the upside, a break above 1.2618 is needed for further upmove towards 1.2652. Stay Short for a test 1.2530 key Support.
Holding EUR/USD Short at 1.2580,Stop-loss-1.2597,Take profit-1.2537(1.2475)
FXDREAM GBP/USD
Date: Tue, 20 June 2006 13:10:01
Resistance levels: 1.8472/1.8560/1.8610
Support levels: 1.8410/1.8360/1.8315
GBP/USD has found Resistance in the 1.8460-70 area and price has repeated yesterdays downmove towards 1.8370-60 strong Support as it was suggested. After US Opening a break below 1.8370 may take price lower towards 1.8316 previous low. If, however , the Support holds, range trade between 1.8370 and 1.8470 is the preferred scenario for today.
Strategy-neutral.
FXDREAM USD/JPY
Date: Tue, 20 June 2006 13:10:01
Resistance levels: 115.50/115.80/116.38
Support levels: 114.55/114.00/113.55
USD/JPY has made pullback towards 115.00 and higher as it was suggested. Later today renewed sell-off may be seen back towards 114.55 low. First strong Resistance comes in the 115.50-60 area. A break below 114.55 may accelerate the downmove towards 113.60 in the next couples of days.
Sell USD/JPY at 115.10,Stop-loss-115.45, Take profit-114.55(114.00
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