| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 1 May 2006 13:10:01
Resistance levels: 1.2650/1.2680/1.2730
Support levels: 1.2590/1.2505/1.2410
Quiet trading during the morning European trade for the currency pair. No change in our view. The sentiment remains positive for the pair. There is strong Resistance at 1.2650 Next up target lies at 1.2680 and then 1.2730. In longer term we may target 1.2890. Pullback down to 1.2590-85 first Resistance region also is not ruled later today.
Buy EUR/USD at 1.2585,Stop-loss-1.2545,Take profit-1.2670(1.2720)
FXDREAM GBP/USD
Date: Mon, 1 May 2006 13:10:01
Resistance levels: 1.8325/1.8390/1.8480
Support levels: 1.8210/1.8150/1.8050
GBP/USD has stayed in narrow range earlier today. Pause in the upmove is possible with pullback towards 1.8210 immediate Support and even 1.8150 later today, before the next up wave towards 1.8300-20 region. We will try to buy on downsticks. In longer term the sentiment remains bullish with target up towards 1.8480.
Buy GBP/USD at 1.8160,Stop-loss-1.8115,Take profit-1.8260(1.8320)
FXDREAM USD/JPY
Date: Mon, 1 May 2006 13:10:01
Resistance levels: 113.40//113.90/114.80
Support levels: 112.90/112.30/111.60
USD/JPY may find temporary Support in the 113.00-112.90 region today and consolidation towards 113.40 first Resistance and even higher is not ruled out . Some of the markets in Asia are closed today. Breakout below 112.90 may take price directly towards 112.30 and 112.00 later today.In longer term, the sentiment remains negative and 109 target may be set for the upcoming weeks.
Sell USD/JPY at 113.40,Stop-loss-113.75,Take profit-112.40(112.00)
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