| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Fri, 17 March 2006 13:10:01
Resistance levels:1.2190/1.2220/1.2260/1.2320
Support levels: 1.2135-30/1.2090/1.2040
EUR/USD has stayed in the range between 1.2135-30 first strong Support and 1.2188 immediate Resistance after quiet morning european session.Today no important fundamental data are expected.The sentiment remains bullush for the pair and price may squeeze higher to 1.2220 at least in the US trading time.In longer term we may target 1.2320 for the next week.The key support comes at 1.2090.Buying downsticks targeting 1.2220 is the proper trading strategy.We will stay aside,as we have already Long GBP/USD position.
Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 17 March 2006 13:10:01
Resistance levels:1.7595/1.7630/1.7665/1.7720
Support levels: 1.7530-25/1.7480/1.7420
GBP/USD has stayed range bound between 1.7580 and 1.7530-20 key Support area today.The sentiment remains bullish with first traget at 1.7630.Only fall below 1.520 may delay the upmove and slight fall to 1.7480 may be seen.Buying on eventual dip may be worth,with target up to 1.7630.We will stay Long trailing our Stop-loss higher to 1.7525 first strong Support..
Holding GBP/USD Long at 1.7350,Stop-loss-1.7525(up from 1.7420),Take profit-1.7600(1.7700)
FXDREAM USD/JPY
Date: Fri, 17 March 2006 13:10:01
Resistance levels: 116.50/117.20/117.85
Support levels: 116.05/115.50
USD/JPY has kept on its downmove down towards 116.05 first Support.Our first target at 116.60 was reached overnight where we have closed part of our Short position with 100 pip profit.Now soon our second target is likely to be touched at 116.10.We may close our Short position with 150 pip profit.In longer term the sentiment remains bearish and further fall towards 115.50 is not ruled out today too.We will trail our stop-loss order lower to 116.50.
Holding USD/JPY Short at 117.60,Stop-loss-116.50(down from 117.95),Take profit-116.60(116.10)
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