| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Thu, 16 March 2006 13:10:01
Resistance levels:1.2090/1.2130/1.2220
Support levels: 1.2040/1.2000/1.1935/1.1900
EUR/USD has tested 1.2092 6th March high as it was suggested in our morning edition.Now in short term the bias remains bullish.While price is above 1.2046-40(200 Days MA),there are chances of a longer bull trend towards 1.2130 and then 1.2320.Only fall back below 1.2000 may negate this scenario.Number of US important fundamental data will be released during the US trading session.We will stay aside as we have already Long USD/GBP position.
Strategy-neutral.
FXDREAM GBP/USD
Date: Thu, 16 March 2006 13:10:01
Resistance levels: 1.7485/1.7525/1.7620
Support levels: 1.7420/1.7330/1.7280
GBP/USD has risen to 1.7499 in the morning European session.Our first target at 1.7520 was not touched yet.The sentiment remains positive,while price is above 1.740-20 key Support region.More volatility may be seen after US Data releases later today.Breakout above 1.7525 may give strength for further upmove towards 1.7630-35 highs.On the other side,fall below the crucial 1.7420 Support will lead price lower to 1.7370.We will stay Long targeting 1.7520 and then 1.7600.As soon as price reach 1.7520,trail stop-loss order higher to 1.7450.
Holding GBP/USD Long at 1.7350,Stop-loss-1.7420,Take profit-1.7520(1.7600)
FXDREAM USD/JPY
Date: Thu, 16 March 2006 13:10:01
Resistance levels: 117.85/118.40/119.40
Support levels: 117.40/117.00/116.50
USD/JPY has stayed without substantial change in price in the morning European session.The pair meets first Support at 117.45-40.On the other side,117.85-90 region provides strong Resistance for now.Breakout in both direction is likely in short term now.Fall below 117.40 may lead price lower for a test of 117.00 again and then 116.20.On the other side,breakout above 117.90 may cause further upmove to 118.40 at least.We still favour the bear trend with target down to 116.20.
Holding USD/JPY Short at 117.60,Stop-loss-117.95,Take profit-116.60(116.20)
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