| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 22 May 2006 13:10:01
Resistance levels: 1.2780/1.2835/1.2880
Support levels: 1.2735/1.2690/1.2650
EUR/USD has bounced for a test of 1.2780 crucial Resistance earlier today after touching 1.2694 dip. The key Resistance for today is lying at 1.2805 today. We still favour the bearish bias in short term with dip down towards 1.2690 and 1.2660 later today. Breakout below 1.2740-35 trend Support will be a signal for such a scenario. No important fundamental data will be released today. In longer term, if the 1.2690-60 crucial Support region is broken, we may see further fall towards 1.2550-40 this week
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 22 May 2006 13:10:01
Resistance levels: 1.8800/1.8910/1.9000
Support levels: 1.8730/1.8630/1.8590
GBP/USD has bounced higher towards 1.8800. Earlier today price has dropped down to 1.8630 key Support. Now the pair meets strong Resistance at 1.8800-20 area and fall back towards 1.8630 is not ruled out in the next two trading sessions. Breakout below 1.8730 will be sign for further downmove towards 1.8630 in short term. In longer term, the final target is at 1.8520.
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 22 May 2006 13:10:01
Resistance levels: 112.90/113.40/114.30
Support levels: 112.25/111.65/111.20
USD/JPY has risen beyond our target to 112.94 high earlier today. The up trend seems valid and furher rise towards 113.40 may be seen later today after slight corrective wave down towards 112.25 gap and crucial Support. On the downside, breakout below 112.25 may turn price back to 111.55-50 region.
Strategy-neutral.
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