| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 10 October 2006 13:10:01
Resistance levels: 1.2570/1.2630/1.2670
Support levels: 1.2515/1.2460/1.2400
EUR/USD has dropped sharply below our suggested target at 1.2520 after London Opening today. The bias remains bearish for further squeeze towards 1.2505 in near term and 1.2460-57 area in mid-term. On the upside, pullback towards 1.2570 first Resistance and previous bottom from Friday also is not ruled out. Look to sell upsticks on pullback for test of 1.2460.
Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 10 October 2006 13:10:01
Resistance levels: 1.8610/1.8640/1.8740
Support levels: 1.8525/1.8500/1.8450
GBP/USD has fallen sharply below 1.8540 after Uk Data Release earlier today. The sentiment remains bearish for test of 1.8500 in short term and 1.8380 in the upcoming days this week. First Resistance comes at 1.8600 ahead of 1.8640 stronger one. Look to sell again on pullback towards 1.8600 for test of 1.8500 and 1.8380 in longer term.
Strategy-neutral.
FXDREAM USD/JPY
Date: Tue, 10 October 2006 13:10:01
Resistance levels: 119.70/120.00/121.30
Support levels: 119.30/119.00/118.40
USD/JPY has risen further to 119.70 as it was suggested in our previous report after North Korea Nuclear test yesterday. The uptrend remains intact for test of 120.00 psychological level and in longer term towards 121.30 previous top. First Support comes in the 119.40-30 area ahead of 118.80 and 118.40 key one. Look to buy on downsticks towards 119.30 for test of 120.00 and 121.30 in longer term.
Strategy-neutral.
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