| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Thu, 9 March 2006 13:10:01
Resistance levels: 1.1945/1.2000/1.2060
Support levels: 1.1890/1.1865/1.1825
Quiet morning European trade for EUR/USD.Price has stayed ranged between 1.1945-50 strong Resistance and 100 Days-MA and 1.1910 on downside.Now the sentiment remains bearish ahead of US Trade Balance and Initial Jobless Claims Numbers.Worse than expected data may boost price higher to 1.1970-80.On the other side ,we favour further downmove towards 1.1865 and 1.1780 maybe tomorrow after US Nonfarm Payrolls Data.We will stay away as we already have Short GBP/USD position.
Strategy-neutral.
FXDREAM GBP/USD
Date: Thu, 9 March 2006 13:10:01
Resistance levels: 1.7420/1.7460/1.7520
Support levels: 1.7330/1.7280/1.7130
GBP/USD is trading without substantial change from the morning between 1.7350 immediate Support and 1.7400 first Resistance.Market is waiting for the US fundamental data now.Move in the both direction is possible-up above 1.7420 may lead price higher to 1.7460 and even 1.7510, or down towards 1.7330 and then 1.7280.The sentiment remains bearish for the pair and in longer term we favour 1.7130.
Sell GBP/USD at 1.7370,Stop-loss-1.7405,Take profit-1.7305(1.7280)
FXDREAM USD/JPY
Date: Thu, 9 March 2006 13:10:01
Resistance levels: 117.80/118.55/119.40
Support levels: 117.00/116.40
USD/JPY fell sharply towards 117.00 as it was suggested in our morning edition.Now more action may be expected after US Data Release.There are equal chances of a fall back towards 117.00 or rise towards 117.80 immediate Resistance and then higher to 118.50.In longer term we prefer the bullish scenario with final target up to 119.40.
Strategy-neutral
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