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Daily Forex Forecast

Thu, Jul 17 2008, 13:24 GMT
by FXDream Team

FXDream

• DAILY FX FORECASTS 

• 
  FXDREAM EUR/USD
  Date: Thu, 17 July 2008 12:30:05
  Resistance levels: 1.5900/1.5950/1.6000/1.6040
  Support levels: 1.5800/1.5760/1.5710
  EUR/USD has fallen back towards 1.5800 levels earlier today Today focus will be on US Philly FED Index at 14:00 GMT The consenus is at -15. Use 10 points deviation The uptrend remains intact for retest of 1.6000 and 1.6035-40 area in mid term First Resistance stands near 1.5870 Above causes retest of 1.5950 over today and tomorrow On downside, below 1.5800 eases price further to 1.5760 later today
• Strategy-neutral
• 
  FXDREAM GBP/USD
  Date: Thu, 17 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 fallen to 1.9960 Support ( just a shy away from our target at 1.9940)) from our target 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 ahead of 2.0150 previous highs . On downside, first strong Support comes at 1.9960 Below turns price back towards 1.9840 over the next trading days
• Strategy-neutral.
• 
  FXDREAM USD/JPY
  Date: Thu, 17 July 2008 12:30:03
  Resistance levels: 106.00/106.30/106.70/107.20
  Support levels: 105.30/104.80/103.90/102.80
  USD/JPY has risen towards 106.00 first target over the last trading sessions as it was suggested No change in our view. The beak above 105.00 is required to signal recovery towards 106.00 and 106.70 over the next trading sessions On downside, first Support comes near 105.30, however a break below 104.80 is needed for resuming the downmove back towards 103.90
• Strategy-neutral.
• 
  FXDREAM USD/CHF
  Date: Thu, 17 July 2008 12:30:02
  Resistance levels: 1.0250/1.0300/1.0350
  Support levels: 1.0170/1.0140/1.0060/1.0000
  USD/CHF has hold above 1.0140 first Support, moving higher above 1.0200 earlier today No change in our view. Below 1.0140 first Support turns price back into bearish territory towards 1.0060 and 1.0000 over the next trading days First minor Support stands near 1.0170 On the upside, as long as price holds above 1.0140 there are chances of further upmove towards 1.0240-50 area later today and 1.0300 in mid term
• Strategy-neutral.
• 
  FXDREAM EUR/JPY
  Date: Thu, 17 July 2008 12:30:01
  Resistance levels: 168.00/169.00/169.50
  Support levels: 167.00/166.50/166.00/165.30
  The Cross has risen further beyond 167.50 earlier today No change in our view. On the upside, the break above 166.80 may resume the uptrend towards 168.00 and 169.70 record highs First target is at 168.00 On downside, below 167.00 first immediate Support may cause pullback down to 166.50 before the next upwave towards 168.00
• Strategy-neutral.

Published on  Thu, Jul 17 2008, 13:25 GMT