| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: ThFri, 10 March 2006 13:10:01
Resistance levels: 1.1945/1.2000/1.2060
Support levels: 1.1890/1.1865/1.1825
Quiet morning European trade for EUR/USD.Price has stayed ranged between 1.1945-50 strong Resistance and 100 Days-MA and 1.1910 on downside.Now the sentiment remains bearish ahead of US Trade Balance and Initial Jobless Claims Numbers.Worse than expected data may boost price higher to 1.1970-80.On the other side ,we favour further downmove towards 1.1865 and 1.1780 maybe tomorrow after US Nonfarm Payrolls Data.We will stay away as we already have Short GBP/USD position.
Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 10 March 2006 13:10:01
Resistance levels: 1.7420/1.7460/1.7520
Support levels: 1.7330/1.7280/1.7130
EUR/USD has stayed range bound in narrow ranges between 1.1910-1.1930 ahead of US Non-farm Payroll Numbers at 13:30 GMT today. Sharp move down towards 1.1825 and 1.1780 may be seen.On the other side,rise above 1.1950 may cause soaring towards 1.2020 and 1.2050 again.We favour the bear trend yet with longer term
target down to 1.1650-40.We will stay aside as we already have Short GBP/USD position.
Sell GBP/USD at 1.7370,Stop-loss-1.7405,Take profit-1.7305(1.7280)
FXDREAM USD/JPY
Date: Fri, 10 March 2006 13:10:01
Resistance levels: 118.55/119.40
Support levels: 117.80/117.00/116.40
USD/JPY has been bound during the European session between 118.00 and 118.50 as it was suggested.Price has rallied to 118.70 overnight,where part of our Long position could be closed with 65 profit.We still favour the bullish sentiment and after US Data Release we may see rally up towards 119.40 target.We will trail our Stop-loss up to 117.80.
Holding USD/JPY Long at 118.05,Stop-loss-117.80(up from 117.70),Take profit-118.90(119.30)
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