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Daily Forex Forecast

Tue, Jul 15 2008, 12:09 GMT
by FXDream Team

FXDream

• DAILY FX FORECASTS 

• 
  FXDREAM EUR/USD
  Date: Tue, 15 July 2008 12:30:05
  Resistance levels: 1.6040/1.6070/1.6100
  Support levels: 1.5950/1.5900/1.5850
  EUR/USD has reached new record high above 1.6010-20 our up target area earlier today as it was suggested despite worse than expected ZEW Sentiment numbers Now focus will be on US Core Retail Sales numbers at 12:30 GMT The consensus is at 1.0% The uptrend is still intact and if the number comes out at 0.5% or lower, further upmove to 1.6070 may be seen later today and 1.6100 over the next trading sessions First Resistance stands near 1.6040 daily high On downside, if the number comes out at 1.5% or higher, pullback to 1.5940 may be seen after the event and 1.5900 in mid term.
• Strategy-neutral
• 
  FXDREAM GBP/USD
  Date: Tue, 15 July 2008 12:30:04
  Resistance levels: 2.0150/2.0200/2.0280
  Support levels: 2.0050/2.000/1.9960/1.9900
  GBP/USD has risen directly to 2.0150 ( beyond 2.0100 our target ) earlier today as as it was suggested in our previous reports after stronger than expected UK Consumer Price index(y/y) -3.8% The bias remains positive with next targets at 2.0200 and 2.0280 in mid term and 2.0400 in longer term First Resistance comes at 2.0150 daily highs. On downside, stronger than expected fundamental data from USA may cause pullbck down to 2.0050 first minor Support after the event The key one stands at 2.0000
• Strategy-neutral.
• 
  FXDREAM USD/JPY
  Date: Tue, 15 July 2008 12:30:03
  Resistance levels: 105.30/106.00/106.70
  Support levels: 104.50/103.90/102.80
  USD/JPY has fallen further below 105.00 next Support over the last trading sessions as it was suggested No change in our view. The bias remains bearish with first Support at 104.50 Below eases price further to 103.90 on soft data from USA later today and 102.80 in mid term On the upside, first minor Resistance comes at 105.30 , possible on stronger than expected US Retail Sales numbers The key Resistance stands at 106.00
• Strategy-neutral.
• 
  FXDREAM USD/CHF
  Date: Tue, 15 July 2008 12:30:02
  Resistance levels: 1.0100/1.0150/1.0250
  Support levels: 1.0000/0.9960/0.9900
  USD/CHF has fallen heavily towards 1.0000 Support and our next target over the last trading sessions exactly as it was suggested The bias remains bearish and disappointing data from USA may push price lower down to 0.9960 later today and 0.9900 over today and tomorrow First minor Support comes near 1.0000 On the upside, first minor Resistance comes a shy below 1.0100, however, a break above 1.0150 is required to signal reversal towards 1.0250 in longer term
• Strategy-neutral.
• 
  FXDREAM EUR/JPY
  Date: Tue, 15 July 2008 12:30:01
  Resistance levels: 168.00/169.00/169.70
  Support levels: 167.20/166.80/166.20
  The Cross has fallen further to 167.50 lows earlier today ( below 167.80 our down target) as it was suggested The bias remains bearish in mid term fith first target at 167.20 and then 166.80 over the next trading sessions On the upside, a break above 168.50 is required for resuming the uptrend towards 169.70 record highs First Resistance comes near 168.00
• Strategy-neutral.

Published on  Tue, Jul 15 2008, 12:10 GMT