| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 1 March 2006 13:10:02
Resistance levels: 1.1970/1.2000/1.2030
Support levels: 1.1925/1.1900/1.1860/1.1825
EUR/USD may test 1.1870 previous high soon.While price is above 1.1925 important Support there are chances of a rally up towards 1.2000 and 1.2030 today.Only fall back below 1.1900 may negate the positive short term bias.Today important fundamental data will be announced.
Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 1 March 2006 13:10:02
Resistance levels: 1.7550/1.7600/1.7660
Support levels: 1.7500-74801.7380-70
GBP/USD rose towards 1.7600 as suggested in our morning edition.If the Resistance at 1.7600 is broken, further rise towards 1.7700 may be seen in the next couples of days.First Support comes in the 1.7500-1.7480 area.We missed to buy at 1.7510 as our Limit order was at 1.7500.We will try buying again in eventual fall back to 1.7500.
Buy GBP/USD at 1.7510,Stop-loss-1.7475,Take profit-1.7590(1.7620)
FXDREAM USD/JPY
Date: Wed, 1 March 2006 13:10:02
Resistance levels: 116.50/17.20/117.80
Support levels: 115.60/115.25/114.800
USD/JPY bounced back towards 115.50 crucial Support.There is immediate Support at 115.80 now.Further downmove may lead price lower to 115.25 today and 114.80 maybe tomorrow.We closed our Short position overnight with 75 pip profit.Now we will try to sell breakout below 115.80.
Sell USD/JPY at 115.75,Stop-loss-116.05,Take profit-115.00(114.80)
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