| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 15 March 2006 13:10:01
Resistance levels:1.2050-60/1.2130/1.2220
Support levels: 1.2000/1.1935/1.1900/1.1865
No change in the view after very quiet morning European session today.Now important fundamental data will be released at 14:00 GMT from USA.While price is above 1.2000,there are chances of a further rally towards 1.2090.Firts important Resistance comes around 1.2050-60 area and 1.2046 level:( 200 Days MA).Breakout may give strength for further upmove towards 1.2090 and even 1.2130.In longer term,reverse in the sentiment may target price to 1.2320.First Support comes at 1.2000.Fall below 1.2000 may turn price back to 1.1935( 100 Days MA).Buying on dips is worth,targeting 1.2090 and higher.We will stay away,as we have already Long GBP/USD position.
Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 15 March 2006 13:10:01
Resistance levels: 1.7485/1.7525/1.7620
Support levels: 1.7420/1.7330/1.7280
GBP/USD has stayed above 1.7420 key Support after fundamental data from UK Release earlier today. Now further upmove towards 1.7520 and even 1.7620 may be seen in the next couples of days,while price is above 1.7420.Eventual fall below that level,on the other hand will turn price back to 1.7330 and even lower.Our first target at 1.7435 was touched and we may close part of our Long GBP/USD position with 85 pip profit.At the same time,we will trail our stop-loss higher to 1.7420 and extend our target higher to 1.7600.First Resistance comes now at 1.7485.
Holding GBP/USD Long at 1.7350,Stop-loss-1.7420,Take profit-1.7520(1.7600)
FXDREAM USD/JPY
Date: Wed, 15 March 2006 13:10:01
Resistance levels: 117.80/118.50/119.40
Support levels: 117.35/116.90/116.20
We still prefer the negative sentiment in short term with target down to 116.20.Only rise back above 117.75-80 first crucial Resistance area may negate this scenario.Today further downmove towards 117.00 may be seen.If the 117.00 is passed through ,next target stands at 116.50 and 116.20.We sold around current levels at 117.45,waiting for a test of 117.00.
Holding USD/JPY Short at 117.45,Stop-loss-117.78,Take profit-116.60(116.20)
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