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Daily Forex Forecast

Thu, Jul 24 2008, 07:38 GMT
by FXDream Team

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  • DAILY FX FORECASTS


  • FXDREAM EUR/USD
    Date: Thu, 24 July 2008 12:30:05
    Resistance levels: 1.5730/1.5800/1.5850
    Support levels: 1.5660/1.5610/1.5540
    EUR/USD has fallen further below 1.5690 our down suggestion over tha last trading sessions as it was suggested in our previous reports Today focus will be on IFO Business Climate Index from Germany at 08:00 GMT The consensus is at 100.2 Use 1 point deviation If the number comes out at 99.00 or lower, furthr eases towards 1.5610 may be seen after the event and 1.5540 in longer term On the upside, if the number comes out at 101.0 or higher, recovery to 1.5730 first Resistance after the event and 1.5800 in mid term is likely to be seen
  • Strategy-neutral

  • FXDREAM GBP/USD
    Date: Thu, 24 July 2008 12:30:04
    Resistance levels: 2.000/2.0080/2.0150
    Support levels: 1.9900/1.9850/1.9790
    GBP/USD has recovred above 2.00 yesterday after Bank of England Minutesoday focus will be on UK Retail Sales numbers at 08:30 GMT The consensus is at -2.6% If the number comes at -3.6% or lower towards 1.9850-40 region may be seen later today and even 1.9790 in mid term On the upside, if the number comes out at -1.6% or better number, reversla towards 2.00 Resistance is not ruled out after the event
  • Sell GBP/USD at 1.9920,Stop-loss-1.9960, Take profit-1.9860( 1.9810)

  • FXDREAM USD/JPY
    Date: Thu, 24 July 2008 12:30:03
    Resistance levels: 107.80/108.40/109.00
    Support levels: 107.50/107.00/106.50/106.10
    USD/JPY has risen further above 107.80 our next up target yesterday The bias remains positive for test towards 108.40 and 109.00 over the next trading sessions On downside, first immediate Support comes at 107.50 Below eases price down to 107.00 in mid term
  • Strategy-neutral.

  • FXDREAM USD/CHF
    Date: Thu, 24 July 2008 12:30:02
    Resistance levels: 1.0390/1.0470/1.0500
    Support levels: 1.0330/1.0280/1.0200/1.0140
    USD/CHF has risen further exactly to our target at 1.0390 yesterday as it was suggested On the upside, the upmove remains intact and a break above 1.0390 may squeeze price higher further towads 1.0470 and 1.0500 over today and tomorrow First Resistance stands at 1.0390 On downside, below 1.0330first Support may ease price down to 1.0280 over the next trading sessions
  • Strategy-neutral.

  • FXDREAM EUR/JPY
    Date: Thu, 24 July 2008 12:30:01
    Resistance levels: 169.40/170.00/170.40
    Support levels: 169.10/168.30/167.30
    The Cross has eased below 169.10 over the last trading sessions No change in our view. On the upside, the uptrend remains intact in longer for reaching new record highs beyond 170.00 In short term, a break above 169.40 is required to signal resuming the upmove towards 170.00 On downside, the break below 169.10-00 area may cause pullback down to 168.30 later today
  • Strategy-neutral.

Archive

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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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