| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Fri, 8 September 2006 13:10:01
Resistance levels: 1.2755/1.2800/1.2835
Support levels: 1.2690/1.2660/1.2620
EUR/USD is trading in narrow range ahead of New York Opening. Poor calendar today. The bias remains negative with test of 1.2885 lows possible in near term and squeeze lower down to 1.2660 and 1.2620 later today and 1.2570 in longer term. On the upside, a break above 1.2755 is needed for retrace higher towards 1.2800 and 1.2835. Look to sell upsticks towards 1.2755 for test of 1.2620.
Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 8 September 2006 13:10:01
Resistance levels: 1.8775/1.8860/1.8911
Support levels: 1.8700/1.8660/1.8620
GBP/USD has remained ranged earlier today. The bias remains negative with further massive sell-offs down towards 1.8620 possible in the next trading sessions as long as price is below 1.8775 previous bottom. On the upside, a break above 1.8775 is needed as a sign for stronger retrace towards 1.8830 and 1.8860. Sell at current price for further downmove towards 1.8620.
Sell GBP/USD at 1.8720,Stop-loss-1.8760,Take profit-1.8650(1.8600)
FXDREAM USD/JPY
Date: Fri, 8 September 2006 13:10:01
Resistance levels: 116.90/117.10/117.50
Support levels: 115.95/115.55/115.30
Bank of Japan has held the rate unchanged at 0.25% as it was suggested. As long as price is above 115.95 crucial Support another successful test of 116.90-117.00 Resistance area may be seen later today. A break above may send price higher towards 117.50 and 117.88 previous highs in longer term. On the other side, a break below 116.00 may cause sell-off towards 115.30.
Strategy-neutral.
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