Daily Forex Forecast

Mon, Jul 14 2008, 13:22 GMT
by FXDream Team

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  • DAILY FX FORECASTS 


  • FXDREAM EUR/USD
    Date: Mon, 14 July 2008 12:30:05
    Resistance levels: 1.5900/1.5950/1.6020
    Support levels: 1.5850/1.5800/1.5750
    EUR/USD has eased down to 1.5850 first Support earlier today as it was suggested No important fundamental news today The uptrend remains intact in mid term for retest of 1.6010-20 record highs region First Resistance comes near 1.5900 now Beyond leads price further to 1.5950 and 1.6020 over the next trading days On downside, there is important Support at 1.5850 Below may cause pullback down to 1.5800 later today The key longer term Support stands in the 1.5760-50 region As long as price holds above these levels the uptrend remains intact in mid and longer term for retest of 1.6010-20 area
  • Strategy-neutral

  • FXDREAM GBP/USD
    Date: Mon, 14 July 2008 12:30:04
    Resistance levels: 1.9900/1.9960/2.0020
    Support levels: 1.9800/1.9720/1.9620
    GBP/USD has fallen down towards 1.9800 earlier today after disappointing ( 2.1%) UK Prodicer Price Index exactly as it was suggested in our previous report No change in our view. The bias remains positive for retest of 1.9950-60 area later today and 2.0020 in mid term First Resistance comes at 1.9900. On downside, the key Support stands near 1.9800 ahead of 1.9730-20 area
  • Strategy-neutral.

  • FXDREAM USD/JPY
    Date: Mon, 14 July 2008 12:30:03
    Resistance levels: 106.70/107.20/107.80
    Support levels: 105.70/105.00/104.50
    USD/JPY has traded near 106.70 first Resistance over the last trading sessions No change in our vieww. Below 106.40-30 area turns price back to 105.70 later today and 105.00 in longer term On the upside, first minor Resistance comes at 106.70 Above may squeeze price higher to 107.20
  • Strategy-neutral.

  • FXDREAM USD/CHF
    Date: Mon, 14 July 2008 12:30:02
    Resistance levels: 1.0250/1.0300/1.0350
    Support levels: 1.0150/1.0100/0.9900
    USD/CHF has tested 1.0250 first Resistance earlier today No change in our view. The bias remains bearish with first minor Support at 1.0200 Below causes retest of 1.0150 bottom later today and 1.0100 in mid term Longer term target is at 0.9900 On the upside, beyond 1.0250 first Resistance may squeeze price to 1.0300 over the next trading sessions
  • Strategy-neutral.

  • FXDREAM EUR/JPY
    Date: Mon, 14 July 2008 12:30:01
    Resistance levels: 169.70/170.00/170.50
    Support levels: 169.00/168.30/167.20
    The Cross has fallen below 169.00 first minor Support earlier today The uptrend remains intact for reaching new record highs at 170.00 and 170.50 in mid and longer term First Resistance comes at 159.70 highs On downside, first Support stands at 169.00 Below may cause pullback down to 168.30 over today and tomorrow
  • Strategy-neutral.

Published on  Mon, Jul 14 2008, 13:24 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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