| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 20 March 2006 13:10:05
Resistance levels:1.2190/1.2220/1.2260/1.2320
Support levels: 1.2135-30/1.2090/1.2040
EUR/USD has stayed betweeen 1.2150 and 1.2190 after quiet morning European trading.Today no important fundamental data are expected. The currency pair remains in bullish sentiment and today another test of 1.2220 important Resistance may be seen.Breakout higher may take price to 1.2320 in the next days.On the other side,EUR/USD has formed strong Support area in the 1.2135-1.2090 regionWe will try buying on downsticks for a test of 1.2220 today.
Buy EUR/USD at 1.2150,Stop-loss-1.2115,Take profit-1.2220(1.2300)
FXDREAM GBP/USD
Date: Mon, 20 March 2006 13:10:05
Resistance levels:1.7595/1.7630/1.7665/1.7720
Support levels: 1.7530-25/1.7480/1.7420
GBP/USD has turned back below 1.7520 on Friday.Our Long position at 1.7350 was stopped at 1.7525 with 175 pip profit.The sentiment remains positive for the pair with crucial Support area in the 1.7530-20 region.While price is above these levels,there are chances of a squeeze higher towards 1.7630 and 1.7660 today.In longer term we may target 1.7720 previous highs as final target.For now we will stay out of the market,waiting for better picture.
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 20 March 2006 13:10:05
Resistance levels: 116.50/117.40/117.80
Support levels: 115.70/115.45/115.00
USD/JPY has fallen down to 115.70 on Friday.Our target at 116.10 was reached and we have closed our Short position at 117.60 with 150 pip profit.Now the bias is negative for the pair and further downmove towards 115.45 is not ruled out.On the other side,consolidation towards 116.50 and then 117.40 may be seen as well.Fall below 115.45 important level may open territory for longer term downmove towards 113.60.We will stay out ,looking for selling on tops for a break below 115.45.
Strategy-neutral.
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