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Daily Forex Forecast

Wed, Jul 16 2008, 12:04 GMT
by FXDream Team

FXDream

• DAILY FX FORECASTS

• 
  FXDREAM EUR/USD
  Date: Wed, 16 July 2008 12:30:05
  Resistance levels: 1.5950/1.6000/1.6040
  Support levels: 1.5870/1.5840/1.5760
  EUR/USD has tested 1.5950 first Resistance earlier today as it was suggested Now all eyes will be focused on US Core Consumer Price Index numbers at 12:30 GMT The consensus is at 0.2% The uptrend remains intact for retest of 1.6000 and 1.6035-40 aea if the number comes out at 0.1% or lower over the next trading sessions First Resistance stands near 1.5950 On downside, if the number comes out at 0.3% or higher, pullback towards 1.5840 may be seen after the event First Support stands near 1.5870 lows
• Strategy-neutral
• 
  FXDREAM GBP/USD
  Date: Wed, 16 July 2008 12:30:04
  Resistance levels: 2.0080/2.0150/2.0200/2.0280
  Support levels: 2.000/1.9960/1.9900/1.9840
  GBP/USD has traded above 2.00 key Support over the last trading sessions as it was suggested in our previous reports No change in our view. 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 2.0080 Disappointing data from USA may cause heavy retest of 2.0150 yesterday highs later today . On downside, stronger than expected US CPI data may turn price back to 1.9960 after the event and 1.9840 over today and tomorrow
• Sell GBP/USD at 2.0005, Stop-loss-2.0040, Take profit-1.9940( 1.9860)
• 
  FXDREAM USD/JPY
  Date: Wed, 16 July 2008 12:30:03
  Resistance levels: 104.50/105.00/106.00/106.70
  Support levels: 103.90/103.10/102.80
  USD/JPY has fallen further below 103.90 next Support and our down target over the last trading sessions as it was suggested No change in our view. The bias remains bearish for further ease towards 103.10 and 102.80 in mid term on weak US CPI numbers On the upside, first minor Resistance comes at 104.50 , but an apmove beyond 105.00 is required to signal recovery towards 106.00 and higher Higher than expected CPI numbers from USA may boost price up to 104.50 over the first minutes after the event and 105.00 over the next couple of trading sessions
• Strategy-neutral.
• 
  FXDREAM USD/CHF
  Date: Wed, 16 July 2008 12:30:02
  Resistance levels: 1.0100/1.0150/1.0250
  Support levels: 1.0000/0.9960/0.9900
  USD/CHF has rebounded towards 1.0150 key Resistance yesterday No change in our viw. 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 Support remains near 1.0000 On the upside, a break above 1.0150 is required to signal reversal towards 1.0240-50 area in longer term
• Strategy-neutral.
• 
  FXDREAM EUR/JPY
  Date: Wed, 16 July 2008 12:30:01
  Resistance levels: 166.00/166.50/167.00
  Support levels: 165.70/165.00/164.50
  The Cross has fallen further towards 165.00 Support and our target over the last trading sessions as it was suggested The bias remains bearish with next target at 165.00 and even 164.50 later today First Support comes near 165.00 On the upside, a break above 166.80 is required for resuming the uptrend towards 168.00 and 169.70 record highs First Resistance comes near 166.00 Above squeezes price up to 166.80
• Strategy-neutral.

Published on  Wed, Jul 16 2008, 12:05 GMT