| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Thu, 23 March 2006 13:10:01
Resistance levels:1.2075/1.2120/1.2165
Support levels: 1.2045/1.2000/1.1945
EUR/USD has dropped to 1.2045(200 Days MA) overnight.Now,after quiet morning european session, the sentiment remains bearish and further downmove towards 1.2000 and even lower to 1.1975 is likely to be seen today.On the other side,first Resistance comes now around 1.2075 with next stronger one at 1.2120.In medium term we prefer stronger USD ahead of interst rates rise next week.
Strategy-neutral.
Strategy-neutral.
FXDREAM GBP/USD
Date: Thu, 23 March 2006 13:10:01
Resistance levels:1.7470/1.7510/1.7595
Support levels: 1.7420/1.7370/1.7330
GBP/USD has fallen further below our first target at 1.7420.At these levels we have closed part of our Short position for 80 pip profit.Breakout below 1.7420 key Support may take price lower towards 1.7375-70 area.On the other side,first minor Resistance comes at 1.7450 ,with crucial one at 1.7475.We will hold Short GBP/USD,trailing our Stop-loss down to 1.7470.
Holding GBP/USD Short at 1.7500,Stop-loss-1.7470(down from 1.7510),Take profit-1.7420(1.7370)
FXDREAM USD/JPY
Date: Thu, 23 March 2006 13:10:01
Resistance levels: 117.40/117.80
Support levels: 116.50/116.00/115.45
USD/JPY has squeezed higher above 117.00 in the morning european trade.We prefer weak JPY after Bank of Japan comments overnight.Now the pair meets crucial Resistance at 117.40.Breakout higher may take price to 117.80 today.First important Support comes at 116.50.Fall below 116.50-40 area may give chances of a test of 115.45 key level for the pair.
Strategy-neutral.
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