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Daily Forex Forecast
Fri, Aug 8 2008, 07:48 GMT
by FXDream Team
Free Forex Forecasts
Just for opening a real account with our clearing broker FXCM LLC - New York reffered by us. For more information contact us at contact@fxdream.comDAILY FX FORECASTS
FXDREAM EUR/USD
Date: Fri, 8 August 2008 07:30:05
Resistance levels: 1.5240/1.5310/1.5410
Support levels: 1.5150/1.5100/1.4950
EUR/USD has falen heavily directly below 1.5350 our down target yesterday after Trichet Comments and directly below 1.5150 earlier today No important fundamental news today . The bias remains bearish for test of 1.5100 next down target and even 1.4950 in longer term First Support comes a shy below 1.5150 On the other side, the crucial Resistance stands at 1.5240 A breakout above that level is required to signal recovery to 1.5310 and 1.5400 in mid term- Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 8 August 2008 07:30:04
Resistance levels: 1.9360/1.9420/1.9460
Support levels: 1.9250/1.9180/1.9150
GBP/USD has fallen further directly to 1.9360 our next down target yesterday and even 1.9250 lows earlier today . Bank of England has left the rate unchanged at 5.0% as it was widely expected. Below 1.9250 daily lows moves price further down to 1.9190-80 region On the upside, a break above 1.9360 important Resistance is needed for recovery towards 1.9460 in mid term First minor one comes at 1.9320- Strategy-neutral.
FXDREAM USD/JPY
Date: Fri, 8 August 2008 07:30:03
Resistance levels: 110.10/111.00/111.70
Support levels: 109.50/109.00/108.30
USD/JPY has risen further towards 110.00 our up suggestion over the last trading sessions On the upside, the uptrend remains intact and the break above 109.60-65 first immediate Resistance resumes the uptrend for test of 110.10 level and 111.70 previous gap level in longer term . On downside, first important Support comes at 109.50 Below causes pullback down towards 108.40-30 area- Strategy-neutral.
FXDREAM USD/CHF
Date: Fri, 8 August 2008 07:30:02
Resistance levels: 1.0750/1.0800/1.0840
Support levels: 1.0680/1.0640/1.0600
USD/CHF has spiked below 1.0540 previous Support and reversed strongly towards 1.0650 our first up target and beyond 1.0700 earlier today after Trichet Speech. The uptrend remains intact with next target at 1.0840 over the next trading sessions First Resistance comes near 1.0750 last hours high On downside, first Support comes near 1.0680 ahead of 1.0640 stronger one- Strategy-neutral.
FXDREAM EUR/JPY
Date: Fri, 8 August 2008 07:30:01
Resistance levels: 167.50/168.20/169.20
Support levels: 166.50/166.00/165.30
The Cross has eased down to 167.70 our down target yesterday on the break below 168.60 previous crucial Support as it was suggested and even further below 167.00 in Asia today On downside, the bias remains bearish and a break below 166.50 pivot and Asia lows lead price further down towards 166.00 later today and 165.30 in mid term. On the upside, first minor Resistance comes at 167.20 , but a break above 167.50 is needed for recovery towards 168.20- Strategy-neutral.
Published on Fri, Aug 8 2008, 07:49 GMT
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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.Interested in forex trading? forex brokerage firms!
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. 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. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.