| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Thu, 25 May 2006 13:10:01
Resistance levels: 1.2790/1.2825/1.2890
Support levels: 1.2750/1.2690/1.2650
EUR/USD has stayed below 1.2800 after quiet European trade earlier today. Some of the markets in Europe are closed today. Now market is focused on Numbers of US Data Relaese at 12;30 GMT- GDP, Core CPE and Existing Home Sales. US Dollar may be supported by strong fundamental data for a test of 1.2700-2690 key Support and even lower to 1.2660. Breakout below 1.2750 immediate Support will be confirmation for such a scenario.
Sell EUR/USD at 1.2740,Stop-loss-1.2775,Take profit-1.1.2690(1.2660)
FXDREAM GBP/USD
Date: Thu, 25 May 2006 13:10:01
Resistance levels: 1.8780/1.8830/1.8885
Support levels: 1.8650/1.8580/1.8510
GBP/USD has stayed ranged in the Asia levels earlier today. Now the bias is negative in near term as long as price is below 1.8780 first crucial Resistance and further dip towards 1.8580-70 area and even lower towards 1.8510 is likely to be seen after US Data Release later today. We will try to sell breakout below 1.8660-50 first Support region for test lower towards 1.8580 and 1.8510.
Sell GBP/USD at 1.8660, Stop-loss-1.8695,Take profit-1.8580(1.8530)
FXDREAM USD/JPY
Date: Thu, 25 May 2006 13:10:01
Resistance levels: 112.60/112.90/113.40
Support levels: 112.15/111.80/111.00
USD/JPY has fallen through towards 112.15 in the morning European trade after unseccessful test of 112.95 high. Later today price may squeeze back towards 112.90 after positive US Data. Breakout above 113.00 is needed as confirmation for uptrend towards 113.90 and higher. On downside, there is strong Support at 111.80 ahead of 111.00 psychological level.
Strategy-neutral.
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