| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 29 May 2006 13:10:01
Resistance levels: 1.2790/1.2830/1.2890
Support levels: 1.2740/1.2690/1.2650
EUR/USD has stayed in narrow ranges as it was suggested today as markets in UK and USA are closed for holiday . Price has fallen down to 1.2700-2690 key Support area on Friday as it was suggested. Now the sentiment remains bearish for the pair. Breakout below 1.2700-2690 key Support is likely to be limited to 1.2660 maybe tomorrow.. First important Resistance is in the 1.2825-30 area ahead of 1.2885 last week high..
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 29 May 2006 13:10:01
Resistance levels: 1.8660/1.8780/1.8885
Support levels: 1.8530/1.8500/1.8415
GBP/USD has dipped sharply on Friday down to our target at 1.8530 on Friday as it was suggested. Today markets in UK and USA are closed so range trade between 1.8530 crucial Support and 1.8660 first Resistance is likely to be seen in the next couples of days. The bias remains negative and later this week 1.8500 key swing level may be tested. It is likely to hold on the first test and rebound towards 1.8775 is not ruled out. We prefer to stay aside today.
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 29 May 2006 13:10:01
Resistance levels: 112.60/112.90/113.40
Support levels: 111.80/111.45/110.90
USD/JPY has surged towards 112.90-95 previous high on Friday after US Data Release as it was suggested. Price has reached 112.75 and rebound back towards 112.25 Entry levels. Today quiet trading may be seen as main markets are closed for holiday. On downside, first important Support comes at 111.80 ahead of 111.45 key one. On upside, another test of 112.90-95 is not ruled out today and tomorrow.
Holding USD/JPY Long at 112.25, Stop-loss-112.00,Take profit-111.90(113.35)
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