| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 23 May 2006 13:10:01
Resistance levels: 1.2880/1.2920/1.2970
Support levels: 1.2820/1.2790/1.2745
EUR/USD has retraced down towards 1.2790 crucial Support earlier today as it was suggested in our previous report. Now markets are waiting for Bernanke Testify at 14:00 GMT. Accent over the inflation may support US Dollar for further dip towards 1.2745 later today. The sentiment remains negative as long as price is below 1.2920. The key Resistance for today is at 1.2885.
Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 23 May 2006 13:10:01
Resistance levels: 1.8885/1.8960/1.9000
Support levels: 1.8790/1.8745/1.8630
GBP/USD did not succeed to break through 1.8885-90 crucial Resistance and yesterdays high earlier today and bounced lower towards 1.8790 first immediate Support. Now markets are focused on Bernanke Testify later today. US Dollar may be supported for further fall towards 1.8745 and even 1.8690 in the US trade session. The key Resistance lies at 1.8885. We will try to sell for a break below 1.8745.
Sell GBP/USD at 1.8810, Stop-loss-1.8850,Take profit-1.8745(1.8700)
FXDREAM USD/JPY
Date: Tue, 23 May 2006 13:10:01
Resistance levels: 111.80/112.15/112.90
Support levels: 111.00/110.75/110.30
USD/JPY has dropped down to 110.95 earlier today after pullback to 111.80-85 area overnight as it was suggested. Now the sentiment remains bearish in short term with further downmove possible towards 110.30 key Support later today. On the other side, US Dollar may be supported by Bernanke Testify later today at 14:00 GMT for a bounce back towards 111.85 and even 112.20 gap.
Strategy-neutral.
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