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Daily Forex Forecast
Mon, Aug 11 2008, 08:01 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: Mon, 11 August 2008 07:30:05
Resistance levels: 1.5000/1.5060/1.5150
Support levels: 1.4920/1.4850/1.4770
EUR/USD has fallen strongly even below our longer term target at 1.4950 over the last trading sessions No important fundamental news today . On downside, the bias remains bearish in longer term with long term target near 1.4770 In short term, a break below 1.4920 daily bottom may ease price further to 1.4850 over the next trading sessions On the other side, there is a minor Resistance at 1.5000. Above squeezes price to 1.5060 later today In mid term, a beak above 1.5060 is required for deeper recovery towards 1.5140-50 region- Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 11 August 2008 07:30:04
Resistance levels: 1.9240/1.9360/1.9420
Support levels: 1.9130/1.9080/1.9030
GBP/USD has fallen further directly to 1.9130-20 area ( below 1.9180 our next down target ) Today focus will be on UK Producer Price Index at 08:30 GMT Higher than expected numbers may cause recovery to 1.9240-50 area later today In longer term, an upmove above 1.9250 is needed to signal reversal in the bias and rally towards 1.9360 On downside, below 1.9120 temporary base formed resumes the downmove towards 1.9030- Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 11 August 2008 07:30:03
Resistance levels: 110.10/111.00/111.70
Support levels: 109.60/109.00/108.30
USD/JPY has risen further beyond 110.10 our up suggestion on Friday as it was suggested On the upside, in longer term the uptrend remains intact for test of 111.70 previous gap level First important Resistance comes near 110.10 again . On downside, first important Support comes at 109.65-60 area Below causes pullback down towards 109.00 later today and 108.40-30 area in longer term- Strategy-neutral.
FXDREAM USD/CHF
Date: Mon, 11 August 2008 07:30:02
Resistance levels: 1.0840/1.0900
Support levels: 1.0760/1.0700/1.0640
USD/CHF has rallied to our next up target at 1.0840 on Friday Currently the bias is neutral Below 1.0760 crucial Support eases price down to 1.0700 in short term and 1.0640 over today and tomorrow On the upside, a break above 1.0840 again confirms further rally to 1.0900 and higher- Strategy-neutral.
FXDREAM EUR/JPY
Date: Mon, 11 August 2008 07:30:01
Resistance levels: 165.30/166.00/166.50
Support levels: 164.00/163.60/162.30
The Cross has eased down to 165.30 our down target on Friday exactly as it was suggested and even below 164.00 in Asia today On downside, the bias remains bearish in longer term for test of 162.30 next down target First Support comes at 164.00 ahead of 163.60 daily bottom . On the upside, first important Resistance comes at 165.30 , a break above 165.30 recovers price to 166.00 later today and 166.50 over today and tomorrow- Strategy-neutral.
Published on Mon, Aug 11 2008, 08:02 GMT
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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.