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Daily Forex Forecast
Wed, Aug 13 2008, 07:31 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: Wed, 13 August 2008 12:30:05
Resistance levels: 1.4950/1.5000/1.5100
Support levels: 1.4880/1.4820/1.4770
EUR/USD has retested 1.4950 first Resistance earlier today Today focus will be on US Core Retail Sales numbers at 12:30 GMT The conensus is at 0.5%. On downside, if the number comes out at 1.0% or stronger , retest of first Support near 1.4880 may be seen after the event Below may resume the downtrend towards 1.4820 yesterday lows On the other side, a break above 1.4950 may confirm recovery to 1.5080-5100 area later today- Buy EUR/USD at 1.4960, Stop-loss-.1.4920, Take profit-1.5040(1.5080)
FXDREAM GBP/USD
Date: Wed, 13 August 2008 07:30:04
Resistance levels: 1.9050/1.9100/1.9220
Support levels: 1.8970/1.8920/1.8830
GBP/USD has fallen further below 1.8970 yesterday bottom bottom over the last trading session Today focus will be on Bank of England Inflationary Report at 09:30 GMT The key Resistance remains at 1.9050 Above that level recovers price up to 1.9100 later today and 1.9220-50 region in mid term On downside, first Support comes near 1.8970 bottom Below turns price back to 1.8920 bottom and even 1.8830 in mid term- Strategy-neutral.
FXDREAM USD/JPY
Date: Wed, 13 August 2008 07:30:03
Resistance levels: 109.00/109.40/110.40
Support levels: 108.30/107.80/107.30
USD/JPY has fallen exactly to 108.40-30 our down target area over the last trading sessions on the break below 109.60 previous important Support exactly as it was suggested in our previous reports No change in our view. On the upside, first important Resistance comes near 109.40 A break above that levels is required to signal resuming the upmove towards 110.40 highs First minor one stands at 109.00 . On downside, below 108.40-30 area eases price further towards 107.80 and then 107.30 levels- Strategy-neutral.
FXDREAM USD/CHF
Date: Wed, 13 August 2008 07:30:02
Resistance levels: 1.0900/1.0930/1.1000
Support levels: 1.0840/1.0760/1.0700
USD/CHF has tested tested 1.0840 key Support over the last trading sessions No change in our view. On downside , below 1.0840 previous Resistance eases price down to 1.0760-40 region later today On the upside, a break above 1.0900 first minor Resistance again confirms further rally towards 1.1000 and 1.1100 in longer term Stay short for test towards 1.0760-40 area- Holding USD/CHF Short at 1.0840, Stop-loss-1.0880, Take profit-1.0780( 1.0750)
FXDREAM EUR/JPY
Date: Wed, 13 August 2008 07:30:01
Resistance levels: 163.00/164.00/164.30
Support levels: 162.00/161.60/161.00
The Cross has fallen further below 162.30 our next down target over the last trading sessions on the break below 163.20 previous bottom formed No change in our view. Now price faces crucial Resistance at 163.00 . A break above may recover price up to 164.00 and 164.30 over the next trading sessions On downside, below 162.00 resumes the downtrend with next target at 161.00- Strategy-neutral.
Published on Wed, Aug 13 2008, 07:32 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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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.
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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.