| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 5 June 2006 13:10:01
Resistance levels: 1.2970/1.3000/1.3050
Support levels: 1.2920/1.2890/1.2830
EUR/USD has climbed to 1.2885 earlier today and then price has bounced back towards 1.2920-10 first Support area. If the Support region holds, later today rise towards 1.3000 may be seen after Trichet and Bernanke Speech at 18:15 GMT. We have also ISM Non-manifacturing at 14:00 GMT. On downside, a break below 1.2920 may take price lower to 1.2890. The sentiment remains positive as soon as price is above 1.2900.
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 5 June 2006 13:10:01
Resistance levels: 1.8870/1.8960/1.9020
Support levels: 1.8770/1.8700/1.8630
GBP/USD has consolidated down towards 1.8770-50 area after unsuccessful test of 1.8870 earlier today. Price has spiked to 1.8876 with small volumes and caught us for small 40 pip loss. Now breakout below 1.8770 may lead price lower later today down to 1.8700. On the upside, breakout above 1.8870 again is needed as sign for sharp rally towards 1.8960 and 1.9020 in the next couples of days.
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 5 June 2006 13:10:01
Resistance levels: 112.25/112.90/113.35
Support levels: 111.50/110.90/110.30
Quiet trading earllier today as most markets in Europe are closed. Now pullback to 112.25 is not ruled out in near term ahead of the next down wave towards 111.00-110.90. Later this week 110.30 and even 108.80 lows may be attacked. Look to sell on rally towards 112.25-30 area.
Sell USD/JPY at 112.25, Stop-loss-112.60,Take profit-111.55(111.05)
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