| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 17 May 2006 13:10:01
Resistance levels: 1.2915/1.2940/1.2970
Support levels: 1.2830/1.2755/1.2690
EUR/USD has risen above 1.2880 earlier today but price has found temporary Resistance at 1.2915. Now market is waiting for US CPI Data at 12:30 GMT. The sentiments remains positive for the pair and further consolidation towards 1.2940 and 1.2970 previous highs is possible later today. In the other direction, stronger than expected CPI Data from USA may cause pullback towards 1.2835-30 key Support region. There is immediate Support at 1.2864.
Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 17 May 2006 13:10:01
Resistance levels: 1.9000/1.9060/1.9145
Support levels: 1.8930/1.8850/1.8780
GBP/USD has reached 1.8996 previous highs and our first target during the morning European trade. We have closed part of our Long position for 65 pip profit. Now the sentiment remains bullish as long as price is above 1.8930 trend Support. Markets are focused on US CPI Index now. There are chances of a further rise towards 1.9050-60 later today or pullback down below 1.8900 again. We prefer to stay Long trailing stop-loss order higher to 1.8930.
Holding GBP/USD Long at 1.8930,Stop-loss-1.8930(up from 1.8890),Take profit-1.8995(1.9050)
FXDREAM USD/JPY
Date: Wed, 17 May 2006 13:10:01
Resistance levels: 109.65/109.90/110.60
Support levels: 109.00/108.75/108.20
USD/JPY has fallen further below 109.00 in the early European trade today. Our first target at 109.35 has been reached overnight and we may close part of the position for small 65 pip profit. Now the sentiment remains negative for the pair in short term with next target down to 108.75. First crucial Resistance now comes around 109.65. We will stay Short trailing Stop-loss order down to 109.65.
Holding USD/JPY Short at 110.00,Stop-loss-109.65(down from 110.20),Take profit-109.35(108.80)
Fx-charts.com Disclaimer: The information contained on this website is subject to change without notice, views and opinions expressed on fx-charts.com may be those of individual authors and may not necessarily be the views of fx-charts.com or its officers and employees, we make no claim to the accuracy or timeliness of any information contained herein. We recommend obtaining advice from a suitably qualified financial advisor before entering into any financial transactions or agreements. The use of this website constitutes acceptance of our privacy policy, disclaimer and terms of use. This website is available for information and educational purposes only.
|
