| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Fri, 20 October 2006 13:10:01
Resistance levels: 1.2640/1.2700/1.2760
Support levels: 1.2580/1.2535/1.2505
EUR/USD has eased further down to 1.2605 in the last few hours on profit taking after strong rally to 1.2640 yesterday. No change in our view. In longer term, the sentiment has turned into bullish for test of 1.2760 next week. First immediate Resistance comes at 1.2640 ahead of 1.2700 stronger one. On downside, further retreat down to 1.2580 first immediate Support and previous Resistance may be seen in near term. The key Support is at 1.2535. Look to buy on retreat towards 1.2580 for retest of 1.2640 and 1.2700.
Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 20 October 2006 13:10:01
Resistance levels: 1.8860/1.9020/1.9075
Support levels: 1.8780/1.8740/1.8665
GBP/USD has risen for test of 1.8860 after UK GDP Release earlier today exactly as it was suggested in our previous report. We have booked 75 pips profit at 1.8855 for the first part of our Long position. Now the bias remains positive for test of 1.9000-20 area and 1.9075 in longer term. On downside, first Support is in the 1.8790-80 area ahead of 1.8740 key one. Stay Long for test of 1.9000-20 area , trailing stop-loss higher to entry price.
Holding GBP/USD Long at 1.8780,Stop-loss-1.8780( up from 1.8740),Take profit-1.8855(1.9000)
FXDREAM USD/JPY
Date: Fri, 20 October 2006 13:10:01
Resistance levels: 118.50/119.18/119.35
Support levels: 118.00/117.40
USD/JPY has recovered towards 118.45 first immediate Resistance in the last two trading sessions.. The bias remains bearish with next target at 117.40. First Resistance comes in the 118.45-50 area. On the upside, recovery towards 118.75 also is possible in short term. .Look to sell on rebound towards 118.50 and 118.75 for retest of 118.00 Support and 117.40 later today.
Strategy-neutral.
Fx-charts.com Disclaimer: The information contained on this website is subject to change without notice, views and opinions expressed on fx-charts.com may be those of individual authors and may not necessarily be the views of fx-charts.com or its officers and employees, we make no claim to the accuracy or timeliness of any information contained herein. We recommend obtaining advice from a suitably qualified financial advisor before entering into any financial transactions or agreements. The use of this website constitutes acceptance of our privacy policy, disclaimer and terms of use. This website is available for information and educational purposes only.
|
