| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 22 March 2006 13:10:05
Resistance levels:1.2120/1.2190/1.2220
Support levels: 1.2065/1.2000/1.1945
EUR/USD has fallen slightly further down to 1.2070 in the morning european trade.The outlook in short term is negative for the pair and today further fall towards 1.2000 may be seen.First Support comes around 1.2060(38.2 % Fibonacci level) and 1.2045( 200 Daily MA).Fall below that level may give strength for further downmove towards 1.2000 and 1.1975 in the next couples of days.First immediate Resistance comes around 1.2120.
Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 22 March 2006 13:10:05
Resistance levels:1.7520-25/1.7595/1.7630
Support levels: 1.7420/1.7370/1.7330
GBP/USD has dipped down to 1.7450 in the morning european hours after unseccessful test of 1.7500.Now further downmove towards 1.7420 key Support may be seen today.We are holding Short position at 1.7500 ,waiting for a test below 1.7420 with target at 1.7370 in next couples of days.There is strong Resistance in the 1.7510-25 area.Fall below 1.7420 may give strength for another down wave to 1.7200 in longer term.
Holding GBP/USD Short at 1.7500,Stop-loss-1.7525(down from 1.7540),Take profit-1.7420(1.7370)
FXDREAM USD/JPY
Date: Wed, 22 March 2006 13:10:05
Resistance levels: 117.40/117.80
Support levels: 116.50/116.00/115.45
USD/JPY has squeezed higher to 117.40 first Resistance overnight.While price is above 116.80 there are chances of a further upmove towards 117.85 today.First Resistance comes at 117.40 and 117.50( 100 Days MA).On the other direction,fall below trend line at 116.80 may move price lower to 116.40.We prefer to stay out of the market for now.
Strategy-neutral.
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