| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 11 September 2006 13:10:01
Resistance levels: 1.2755/1.2800/1.2835
Support levels: 1.2680/1.2640/1.2570
EUR/USD has recovered up to 1.2735 after London Opening today. As long as price is below 1.2755-58 strong Resistance area, however, the bias remains negative for further choppy trading later today between 1.2682 and 1.2735 levels. First crucial Support comes at 1.2640 Friday low ahead of 1.2570 down target.. On the upside, a break above 1.2755 is needed for retrace higher towards 1.2800 and 1.2835. No important fundamental data today.
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 11 September 2006 13:10:01
Resistance levels: 1.8707/1.8775/1.8860
Support levels: 1.8625/1.8600/1.8500
GBP/USD has spiked up to 1.8707 after earlier today as UK Trade Balance has came the same with the expectations. Part of our Short position has been closed at 1.8650 on Friday with 70 pip profit. Unfortunately, the other half has been stopped at 1.8700 earlier today with small 20 pip profit. The bias remains negative for the pair with further down squeeze down to 1.8600 key Support possible later today. On the other side, first immediate Resistance comes at 1.8707 spike stick. A break above may cause retrace higher towards 1.8770-75 area.
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 11 September 2006 13:10:01
Resistance levels: 117.50/117.88/118.15
Support levels: 116.50/115.95/115.55
USD/JPY has remained steady on Friday retesting successfully 116.90-117.00 previous strong Resistance area as it was suggested in our last report. A break above may be indication for resuming the uptrend towards 117.88 previous high and even higher towards 118.15. In near term 117.50 Resistnace may be tested. On the other side, first minor Support comes at 116.90 previous Resistance level ahead of 116.50 stronger one. Look to buy on downsticks for test of 117.85-88 area and higher.
Strategy-neutral.
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