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Daily Forex Forecast
Mon, Aug 18 2008, 07:35 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, 18 August 2008 07:30:05
Resistance levels: 1.4770/1.4800/1.4850
Support levels: 1.4700/1.4660/1.4620
EUR/USD has fallen heavily further below 1.4700 on Friday exactly as it was suggested in our previous reports No important fundamental new today On downside, the bias remains bearish and a break below 1.4700 may lead price towards 1.4620 later today On the other side, first minor Resistance stands at 1.4770 Above recovers price towards 1.4850 over the next trading sessions- Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 18 August 2008 07:30:04
Resistance levels: 1.8730/1.8790/1.8860
Support levels: 1.8630/1.8510/1.8450
GBP/USD has fallen further heavily directly below 1.9520 our next target on Friday exactly as it was suggested On downside, the bias remains bearish for retest towards 1.8520 over the next trading sessions First Support stands at 1.8630 On the upside, an upmove above 1.8780-90 key Resistance is needed for reversal and deeper correction towards 1.8860 and 1.8920 First minor Resistance comes near 1.9730- Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 18 August 2008 07:30:03
Resistance levels: 110.40/111.00
Support levels: 109.70/109.00/108.30
USD/JPY has retested 110.40 previous highs and our target on Friday as it was suggested in our previous reports No change in our view. On the upside, a break above 110.40 again confirms resuming the upmove towards 111.00 new highs . On downside, first important Support comes at 109.70 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: Mon, 18 August 2008 07:30:02
Resistance levels: 1.1000/1.1050/1.1100
Support levels: 1.0910/1.0900/1.0840
USD/CHF has tested 1.1000 on Friday as it was suggested We have booked 60 pip profit over the first part and 105 pip profit over the rest of our Long position On downside , key pivot level now at 1.09100 Below turns price back towards 1.0840-30 area On the upside, as long as price holds above 1.0910 the uptrend remains intact for retest towards 1.1000 later tday and 1.1100 in longer term- 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: Mon, 18 August 2008 07:30:01
Resistance levels: 163.00/164.00/164.30
Support levels: 162.00/161.40/161.00
The Cross has traded ranged below 163.00 first Resistance 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 near 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 Mon, Aug 18 2008, 07:36 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.