| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 24 May 2006 13:10:01
Resistance levels: 1.2880/1.2920/1.2970
Support levels: 1.2765/1.2690/1.2650
EUR/USD has risen to 1.2880 key Resistance after IFO Index Release earlier today as it was suggested. Now markets are focused on US Durable Goods Release at 12;30 GMT. US Dollar may be supported for test of 1.2765 key Support later today during the US Trading session. Breakout below 1.2765 may push price lower to 1.2700-2690 area. On the upside, rise above 1.2920 is needed as confirmation for uptrend towards 1.2970 and 1.3000.
Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 24 May 2006 13:10:01
Resistance levels: 1.8855/1.8885/1.8960
Support levels: 1.8730/1.8690/1.8630
GBP/USD has found immediate Resistance in the 1.8850-55 region earlier today. Now the next direction will depends on US Data at 12:30 GMT. Sharp fall back towards 1.8730 and 1.8690 is possible later today. On the upside, breakout above 1.8885 is needed as a sign for further rise towards 1.8960 and 1.9000. We will stay Long with stop and reverse level at 1.8795.
Holding GBP/USD Long at 1.8815,Stop-loss-1.8795,Take profit-1.8880(1.8950)
FXDREAM USD/JPY
Date: Wed, 24 May 2006 13:10:01
Resistance levels: 112.10/112.60/112.90
Support levels: 111.65/111.00/110.30
USD/JPY has dropped down to 111.65 earlier today. Now the sentiment seems neutral with equal chances of further fall towards 111.00 or bounce back towards 112.60 overnight highs. Markets are waiting for US Durable Goods Data at 12:30 GMT. Fisrt Resistance comes at 112.10.
Strategy-neutral.
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