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Daily Forex Forecast

Fri, Aug 15 2008, 11:04 GMT
by FXDream Team

FXDream

• DAILY FX FORECASTS

• 
  FXDREAM EUR/USD
  Date: Fri, 15 August 2008 07:30:05
  Resistance levels: 1.4800/1.4850/1.4970
  Support levels: 1.4770/1.4700/1.4620
  EUR/USD has fallen heavily to 1.4770 yesterday and even 1.4750 over the last trading hours after higher than expected US Core Consumer Price Index numbers exactly as it was suggested in our previous report Today focus will be on US Industrial Production numbers at 13:15 GMT The conensus is at 0.0% On downside, the bias remains bearish with next targets at 1.4700 and then 1.4620 On the other side, first minor Resistance stands at 1.4800, however a break above 1.4850 is required to signal recovery towards 1.4970-80 previous highs
• Strategy-neutral.
• 
  FXDREAM GBP/USD
  Date: Fri, 15 August 2008 07:30:04
  Resistance levels: 1.8790/1.8860/1.8920
  Support levels: 1.8680/1.8620/1.8520
  GBP/USD has recovered towards 1.9790 key Resistance , falling back below 1.8680 yesterday exactly as it was suggested On downside, the bias remains bearish for test towards 1.9620 previous bottom in short term and 1.8620 over the next trading sessions On the upside, an upmove above 1.8700 first minor Resistance may cause retest of 1.9780-90 Resistance region
• Strategy-neutral.
• 
  FXDREAM USD/JPY
  Date: Fri, 15 August 2008 07:30:03
  Resistance levels: 110.00/110.40/111.00
  Support levels: 109.00/108.30/107.30
  USD/JPY has risen to 110.00 and towards 110.40 our up targets over the last trading sessions as it was suggested in our previous reports No change in our view. On the upside, the break above 109.40 levels may signal resuming the upmove towards 110.00 and even 110.40 highs . On downside, first Support stands at 109.50 now Below turns price back to 109.00 later today and 108.40-30 bottom area in mid term
• Strategy-neutral.
• 
  FXDREAM USD/CHF
  Date: Fri, 15 August 2008 07:30:02
  Resistance levels: 1.1000/1.1050/1.1100
  Support levels: 1.0930/1.0900/1.0840
  USD/CHF has risen heavily towards 1.1000 yesterday after higher than expected US CPI numbers as it was suggested We have booked 60 pip profit over the first part of our Long position On downside , first important Support comes a shy below 1.0930 Below turns price back towards 1.0840-30 area On the upside, the break above 1.0930 resumes the uptrend towards 1.1000 and 1.1100 in longer term First target comes near 1.1050
• Holding USD/CHF Long at 1.0890, Stop-loss-1.0920( up from 1.8850 ), Take profit-1.0950( 1.0995)
• 
  FXDREAM EUR/JPY
  Date: Fri, 15 August 2008 07:30:01
  Resistance levels: 163.00/164.00/164.30
  Support levels: 162.00/161.40/161.00
  The Cross has eased back below 162.50 over the last trading sessions On downside, the bias remains bearish for test towards 161.60-40 bottom region in mid term First Support comes at 162.00 On the upside, an upmove above 163.00 again may recover price up towards 164.00 and 164.30
• Strategy-neutral.

Published on  Fri, Aug 15 2008, 11:06 GMT