| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 26 September 2006 13:10:01
Resistance levels: 1.2735/1.2780/1.2830
Support levels: 1.2680/1.2650/1.2630
EUR/USD has dropped sharply below 1.2700 after IFO Business Climate Release as it was suggested. First immediate Support now comes at 1.2680 . Further downmove towards 1.2650 is likely to be seen later today after US Consumer Confidence at 14:00 GMT. On the other side, retrace back towards 1.2730 also is not ruled out. The bias is bearish for the as long as price is below 1.2760. Be caruful in trading US Consumer Confidence as sharp 20-30 pip spike is possible before reversal towards the main trend.
Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 26 September 2006 13:10:01
Resistance levels: 1.9000/1.9045/1.9090
Support levels: 1.8936/1.8900/1.8860
GBP/USD has fallen further down to 1.8936 earlier today as it was suggested. Our first target has been reached at 1.8960 for 70 pip profit. Later today further downmove for test of 1.8905-00 area is likely to be seen after US Consumer Confidence Release. On the other side, a break above 1.9000 is needed for resuming the uptrend towards 1.9070-90 Resistance area. Stay Short trailing stop-loss to 1.9000 for test of 1.8905-00 area later today.
Holding GBP/USD Short at 1.9030,Stop-loss-1.9000( down from 1.9065),Take profit-1.8960(1.8910)
FXDREAM USD/JPY
Date: Tue, 26 September 2006 13:10:01
Resistance levels: 116.70/117.20/117.50
Support levels: 116.10/115.60
USD/JPY is still trading in the 116.10-116.70 range. Price has remained ranged ahead of US Consumer Confidence as it was suggested. 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. On the upside, a break above 116.74 after US Consumer Confidence may send price higher for test of 117.20.
Strategy-neutral.
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