| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 7 March 2006 13:10:02
Resistance levels: 1.1945/1.2000/1.2060
Support levels: 1.1900/1.1.1865/1.1825
EUR/USD fell to 1.1900 crucial Support after 1.1940 breakout (100 Day-MA) as we had suggested in our morning edition.Now slight consolidation may be seen towards 1.1945 first Resistance,before the next down wave to 1.1865 and lower,maybe tomorrow.There is strong Resistance around 1.1970-80 and then 1.2000 so price is likely to stay below these levels in the next couples of days.
Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 7 March 2006 13:10:02
Resistance levels: 1.7410-20/1.7460/1.7510
Support levels: 1.7350/1.7280
GBP/USD fell as was suggested below 1.7400 this morning and passed through our first target at 1.7375.We may close part of our Short GBP/USD position with 65 pip profit.Now consolidation back to 1.7410-20 first Resistance may be seen today.We will trail our stop-loss to these levels,hoping for another downwave towards 1.7330 and even 1.7280 maybe tomorrow.
Holding GBP/USD Short at 1.7440,Stop-loss-1.7425(down from 1.7470),Take profit-1.7370(1.7330)
FXDREAM USD/JPY
Date: Tue, 7 March 2006 13:10:02
Resistance levels: 117.80/118.15/118.55
Support levels: 117.50/117.15/116.80
USD/JPY is still trading below 117.80 first important Resistance.Now there are equal chances of a rise towards 118.50-55 and fall back towards 117.20-15.First Support comes around 117.50.Thursday would be the important day for the Japanese Yen,as important data from Japan will be realeased then.We may target 119.30 in longer term.
Holding USD/JPY Long at 117.90,Stop-loss-117.60,Take profit-118.50(119.30)
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