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Daily Forex Forecast

Thu, Jul 31 2008, 12:01 GMT
by FXDream Team

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  • DAILY FX FORECASTS


  • FXDREAM EUR/USD
    Date: Thu, 31 July 2008 12:30:05
    Resistance levels: 1.5620/1.5700/1.5750
    Support levels: 1.5560/1.5520/1.5470
    EUR/USD has tested 1.5620-25 first Resistance area over the last trading sessions Today focus will be on US GDP Numbers at 12:30 GMT The consensus is at 2.3% On the upside, above 1.5620-25 first Resistance region recovers price up to 1.5700-10 area over the next trading sessions if the number comes out at 1.9% or lower. On downside, if the number comes out at 2.7% or stronger, ease to 1.5560 after the event is likely to be seen Below resumes the dowtrend towards 1.5470 in mid term
  • Strategy-neutral

  • FXDREAM GBP/USD
    Date: Thu, 31 July 2008 12:30:04
    Resistance levels: 1.9840/1.9920/1.9950/2.0080
    Support levels: 1.9760/1.9700/1.9650
    GBP/USD has retested 1.9840 Resistance again earlier today No change in our view. On the upside, first immediate Resistance comes near 1.9840 Above that levels recovers price up to 1.9910-20 area later today and 1.9970 in mid term First immediate Resistance comes at 1.9840 On downside, below 1.9790 turns price back to 1.9750 yesterday bottom and 1.9650 in mid term
  • Strategy-neutral.

  • FXDREAM USD/JPY
    Date: Thu, 31 July 2008 12:30:03
    Resistance levels: 108.40/109.00/110.00
    Support levels: 107.80/107.30/107.10
    USD/JPY has hold above 107.80 over the last trading sessions No change in our view. Now price faces Support at 107.80 Below turns price back to 107.30 previous lows over today and tomorrow On the upside, above 108.40 unlocks territory for test towards 109.00 over the next trading sessions and 110.00 in mid term First key Resistance stands near 108.40
  • Strategy-neutral.

  • FXDREAM USD/CHF
    Date: Thu, 31 July 2008 12:30:02
    Resistance levels: 1.0480/1.0520/1.0540
    Support levels: 1.0440/1.0350/1.0300
    USD/CHF has remained above 1.0440 crucial Support over the last trading sessions Below 1.0440 Support eases price heavily towards 1.0350 over the next trading days The key Support remains near 1.0300 On the upside, first minor Resistance comes at 1.0480 Above that levels squeezes price towards 1.0540 later today and 1.0600.
  • Strategy-neutral.

  • FXDREAM EUR/JPY
    Date: Thu, 31 July 2008 12:30:01
    Resistance levels: 169.00/169.50/170.00
    Support levels: 168.00/167.50/166.90
    The Cross has risen to 169.00 next Resistance earlier today as it was suggested No change in our view. A break above 168.70 resumes the uptrend towards 169.40-50 area later today nad 170.00 and higher in longer term On downside, the key Support remains near 168.00 Below reverses price lower to 167.50 First immediate one comes at 168.50.
  • Strategy-neutral.

Archive

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Legal disclaimer and risk disclosure

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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