| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 11 October 2006 13:10:01
Resistance levels: 1.2570/1.2630/1.2670
Support levels: 1.2505/1.2460/1.2400
EUR/USD has retreated up to 1.2558 earlier today after stronger than previous quarter EU GDP Growth. The bias remains bearish for further squeeze towards 1.2505 in near term and 1.2460-57 area in mid-term as long as price is below 1.2630 trend Resistance. Now focus will be on FOMC Meeting Minutes at 18:00 GMT later today. Hawkiosh tone may push price for test of 1.2460 in the next trading sessions today and tomorrow. On the other side, first Resistance comes at 1.2570 bottom from Friday ahead of 1.2630 key Resistance. Look to sell on upsticks before the FOMC Minutes for test of 1.2460-57 area.
Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 11 October 2006 13:10:01
Resistance levels: 1.8600/1.8640/1.8740
Support levels: 1.8510/1.8460/1.8380
GBP/USD has rebounded to 1.8590 after London Opening 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 on pullback towards 1.8640 or at current quote ahead of FOMC Minutes later today at 18:00 GMT for test of 1.8500 and 1.8380 in longer term.As soon as price falls below 1.8510, move stop-loss to entry price.
Sell GBP/USD at 1.8540,Stop-loss-1.8680,Take profit-1.8465(1.8410)
FXDREAM USD/JPY
Date: Wed, 11 October 2006 13:10:01
Resistance levels: 119.70/120.00/121.30
Support levels: 119.30/119.00/118.40
USD/JPY has eased down to 119.40-30 Support area earlier today as it was suggested.. The uptrend remains intact for test of 120.00 psychological level in near term 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 119.40-30 area for test of 120.00 after FOMC Minutes and 121.30 in longer term.
Strategy-neutral.
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