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Daily Forex Forecast

Wed, Nov 22 2006, 13:42 GMT
by FXDream Team

FXDream  |  View company's profile


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DAILY FX FORECASTS

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Disclaimer: Forex trading involves a substantial risk of loss.

FXDREAM EUR/USD
Date: Wed, 22 November 2006 13:10:05
Resistance levels: 1.2870/1.2900/1.2940
Support levels: 1.2850/1.2800/1.2760

EUR/USD has risen to 1.2890 earlier today.The bias remains positive for test of 1.2900 previous high later today and even 1.2940 in mid-term.. First minor Support comes at 1.2850 now. .Only a break below 1.2800 may reverse the bias towards towards 1.2760 last week lows and even 1.2745-43 strong Support. Look to buy on downsticks for retest of 1.2900 at least and higher towards 1.2940 over the next days.

Strategy-neutral.

FXDREAM GBP/USD
Date: Wed, 22 November 2006 13:10:04
Resistance levels: 1.9100/1.9150/1.9180
Support levels: 1.9050/1.9000/1.8940

GBP/USD has risen strongly for test of 1.9100 after Bank of England Minutes as it was suggested. Our first target has been touched with 60 pips profit.. The bias remains bullish for test of 1.9150 strong Resistance test ahead of ThankGiving Holiday tomorrow. On the other side. first Support comes at 1.9050 now . A break below may turn price back towards 1.8940 . Trade from Long side for test of 1.9100 and 1.9150.

Holding GBP/USD Long at 1.9030,Stop-loss-1.9045(up from 1.8995),Take profit-1.9090(1.9145)


FXDREAM USD/JPY
Date: Wed, 22 November 2006 13:10:03
Resistance levels: 117.35/117.80/118.30
Support levels: 117.00/116.57

USD/JPY has fallen below 117.50 previous strong Support in Asia, breaking below 117.10 target and previous bottom and earlier today.The bias remains bearish for retest of 116.57 bottom. On the upside, first Resistance comes at 117.35. Trade from short side for test of 116.57 at least.

Strategy-neutral.

FXDREAM USD/CHF
Date: Wed, 22 November 2006 13:10:02
Resistance levels: 1.2360/1.2405/1.2450
Support levels: 1.2290/1.2250/1.2200

USD/CHF has dropped sharply down towards 1.2300 earlier today. The bias remains in negative territory for further downmove towards 1.2290 and 1.2250 over the next two days. Markets in USA and Japan will be closed tomorrow for holiday. On the upside, first Resistance comes at 1.2360 now ahead of 1.2405 stronger one. Trade from short side as long as price is below 1.2360 for test of 1.2250 and 1.2200 in the next days.

Strategy-neutral.

FXDREAM EUR/JPY
Date: Wed, 22 November 2006 13:10:01
Resistance levels: 151.20/151.70/152.30
Support levels: 150.60/150.15/149.80

The Cross has fallen down below 151.10 Support earlier today. First Support now comes at 150.60 previous bottom ahead of 150.15 stronger one. Firts Resistance is situated in the 151.10-20 area now. Look to buy on bottom formed for the next upwave for retest of 151.70 record high and even higher towards 152.30-40 area.

Strategy-neutral.

Published on  Wed, Nov 22 2006, 13:41 GMT


FXDream.com | 3500 Windmeadows Blvd. #88, Gainesville, Florida, 32607 USA
http://www.fxdream.com | contact@fxdream.com

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Legal disclaimer and risk disclosure

These forecasts are based on our reading of the market at the time of writing.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy.Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur. Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.The high degree of leverage can work against you as well as for you.The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
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