Daily Forex Forecast

Wed, Jul 9 2008, 07:40 GMT
by FXDream Team

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  • DAILY FX FORECASTS 

  • FXDREAM EUR/USD
    Date: Wed, 9 July 2008 07:30:05
    Resistance levels: 1.5750/1.5840/1.5900
    Support levels: 1.5640/1.5600/1.5530
  • EUR/USD has failed to break above 1.5740-50 important Resistance area over the last trading sessions, easing back to 1.5640 Support No important fundamental news today No change in our view. As long as price trades below 1.5740-50 first important Resistance area there are chances of retest of 1.5610-00 region and 1.5530 in mid term First Minor Support remains at 1.5640 On the upside, beyond 1.5740-50 area resumes the upmove towards 1.5840 and 1.5900 previous highs in mid term
  • Strategy-neutral

  • FXDREAM GBP/USD
    Date: Wed, 9 July 2008 07:30:04
    Resistance levels: 1.9790/1.9830/1.9900
    Support levels: 1.9650/1.9580/1.9510
  • GBP/USD has failed to move up beyond 1.9790 key Resistance yesterday, easing back below 1.9700 over the last trading sessions No change in our view. . Now the bias remains bearish as long as price holds below 1.9790 key Resistance for retest of 1.9650 bottom Below eases price further down to 1.9585-80 area. On the upside, above 1.9790 crucial Resisatnce moves price up higher to 1.9830 later today and 1.9900 in mid term
  • Strategy-neutral.

  • FXDREAM USD/JPY
    Date: Wed, 9 July 2008 07:30:03
    Resistance levels: 107.80/108.40/108.60
    Support levels: 107.00/106.30/106.00/105.20
  • USD/JPY has moved up to 107.60 over the last trading sessions The break above 107.20 yesterday signals further upmove to 107.80 first up target and 108.40-60 region in mid term On downside, first important Support comes at 107.00 Below turns price back to 106.30 yesterday lows Trade from Long side for test towards 108.40-60 region
  • Buy USD/JPY at 107.50, Stop-loss-107.10 , Take profit-108.10( 108.60)

  • FXDREAM USD/CHF
    Date: Wed, 9 July 2008 07:30:02
    Resistance levels: 1.0350/1.0400/1.0500
    Support levels: 1.0280/1.0240/1.0170/1.0120
  • USD/CHF has retested 1.0350 previous highs and our up target on the break above 1.0280 yesterday as it was suggested Now first important Support stands at 1.0280. Below causes retest of 1.0220 yesterday lows. On the upside, the uptrend remains intact for test of 1.0400 highs later today. First Resistance comes near 1.0350
  • Strategy-neutral.
  • FXDREAM EUR/JPY
    Date: Wed, 9 July 2008 07:30:01
    Resistance levels: 168.60/169.00/169.50
    Support levels: 168.10/167.30/166.00
  • The Cross has retested 167.30 over the last trading days , rebounding back beyond 168.60 our first up target earlier today The uptrend remains intact for test towards 169.00 and 169.50 record highs over today and tomorrow as long as price trades above 168.10-00 first important Support area On downside, below 168.10 turns price back to 167.30-20 bottom area
  • Strategy-neutral.

Published on  Wed, Jul 9 2008, 07:42 GMT

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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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