| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 25 September 2006 13:10:01
Resistance levels: 1.2790/1.2835/1.2878
Support levels: 1.2750/1.2715/1.2680
EUR/USD has eased down to 1.2753 ahead of important US Existing Home Sales numbers later today at 14:00 GMT. Numbers below 5.8 mln would be very negative for the US Dollar sending EUR/USD higher towards 1.2830-35 Resistance area and 1.2878 previous high level in mid-term. On the other side, number above 6.3-6.4 mln will surprise markets and cause further corrective wave downtowards 1.2715 bottom. Look to buy for test of 1.2830 or sell a break below 1.2750 after the event.
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 25 September 2006 13:10:01
Resistance levels: 1.90901.9142
Support levels: 1.8990/1.8950/1.8900
GBP/USD has eased down to 1.9008 earlier today as it was suggseted. The next direction will depends on US Existing Home Sales in an hour. Numbers together with the expectiotions or better may turn price back below 1.8990 Friday bottom for test of 1.8950 Support later today. On the other side, numbers below 6 mln may cause another test of 1.9070-90 strong Resistance area. In longer term, the uptrend is still intact for retest of 1.9142 previous high level.
Sell GBP/USD at 1.9030,Stop-loss-1.9065,Take profit-1.8960(1.8910)
FXDREAM USD/JPY
Date: Mon, 25 September 2006 13:10:01
Resistance levels: 116.70/117.20/117.50
Support levels: 116.10/115.60
USD/JPY has retested 116.70 first Resistance earlier today. As long as price is below 116.74 Friday top the sentiment remains negative for test of 115.60. First Support comes in the 116.10-05 area. In short term, range trade between 116.10 and 116.74 is likely to be seen. Look to sell upsticks towards 116.70 for test of 115.60.
Strategy-neutral.
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