| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 21 March 2006 13:10:05
Resistance levels:1.2190/1.2220/1.2260/1.2320
Support levels: 1.2118/1.2060/1.2000
EUR/USD has stayed in narrow ranges between 1.2120 and 1.2160 in the morning European tradin session.Today,we have US PPI Index and that could give clear direction in short term.We may see stronger US Dollar ahead of expectations of further 25 basis points interest rates rise next week.Fall below 1.2100 may cause further downmove to 1.2064-60(38.2% Fibonacci important level).Buying interest may appear in the 1.2060-50 region for another test of 1.2220.In longer term,we favour 1.2320 previos high.
Buy EUR/USD at 1.2150,Stop-loss-1.2115,Take profit-1.2220(1.2300)
FXDREAM GBP/USD
Date: Tue, 21 March 2006 13:10:05
Resistance levels:1.7535/1.7595/1.7630/1.7665
Support levels: 1.7460/1.7420/1.7370
GBP/USD has dropped below 1.7525 previous strong Support and has moved down to 1.7460.The sentiment has turned to neutral and further downmove towards 1.7420 key Support is not ruled today.Only rise back above 1.7525 may negate such a scenario.We will be waiting for a fall below 1.7420 as a signal for reversal in longer term towards 1.7200 again.
Strategy-neutral.
FXDREAM USD/JPY
Date: Tue, 21 March 2006 13:10:05
Resistance levels: 116.80/117.40/117.80
Support levels: 116.00/115.45/115.00
USD/JPY has risen up to 116.95 in the morning trade time in Europe.While price is above 116.50,price may squeeze higher towards 117.35-40 key Resistance, before the next test of 115.45 important level for the pair.Breakout below 115.45 may open territory for further fall towards 113.60 in longer term.The sentiment in longer term remains bearish.We will stay aside now, waiting to sell on tops for another test of 115.45.
Strategy-neutral.
Fx-charts.com Disclaimer: The information contained on this website is subject to change without notice, views and opinions expressed on fx-charts.com may be those of individual authors and may not necessarily be the views of fx-charts.com or its officers and employees, we make no claim to the accuracy or timeliness of any information contained herein. We recommend obtaining advice from a suitably qualified financial advisor before entering into any financial transactions or agreements. The use of this website constitutes acceptance of our privacy policy, disclaimer and terms of use. This website is available for information and educational purposes only.
|
