| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 9 October 2006 13:10:01
Resistance levels: 1.2630/1.2670/1.2718
Support levels: 1.2570/1.2520/1.2460
EUR/USD has dropped sharply down to our target at 1.2570 on Friday. We have released 55 pips profit for the first half, and 90 pips for the second half of our Short at 1.2660. US Unemployment Rate has fallen to 4.6% . Price has dropped down to 1.2570 after short spike to 1.2715-18 Resistance. Today markets in Asia and North America are closed. Thin volumes is likely to be seen today. First Resistance comes at 1.2630 previous bottom. First Support comes at 1.2570. The bias remains bearish as long as price is below 1.2630 for test of 1.2457 in longer term.
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 9 October 2006 13:10:01
Resistance levels: 1.8740/1.8800/1.8875
Support levels: 1.8650/1.8630/1.8600
GBP/USD has spiked to 1.8875 after US Non-Farm Payrolls Release on Friday, before the sharp fall below our suggested target at 1.8680. We have released 30 pips loss, but our position has been hedged with Long USD/CHF. Today price has fallen further down to 1.8752 after UK PPI at 08:30 GMT earlier today. The bias remains bearish for retest of 1.8630 bottom and 1.8600-8595 area strong Support. On the upside, first Resistance comes at 1.8740. Stay aside for now as markets in USA and Canada are closed today, looking to sell on upsticks for test of 1.8600-8595 area at least.
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 9 October 2006 13:10:01
Resistance levels: 119.40/119.70/120.00
Support levels: 119.00/118.40/117.60
USD/JPY has surged beyond 119.15 on Friday on the strong US Unemployment Rate Figure. The uptrend remains intact in longer term towards 119.70 and 120.00. First Resistance comes near 119.40 top. In short term, however, pullback down towards 118.80 and 118.40 key Support is not ruled out. Stay aside today as markets in USA will be closed, looking to buy on dips tomorrow for test of 119.70.
Strategy-neutral.
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