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Daily Forex Forecast
Wed, Aug 20 2008, 07:50 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, 20 August 2008 07:30:05
Resistance levels: 1.4780/1.4800/1.4870
Support levels: 1.4700/1.4660/1.4620/1.4550
EUR/USD has recovered directly to 1.4800 yesterday after better than expected ZEW Sentiment Survey from Germany No important fundamental news today On downside, the bias remains bearish and a break below 1.4700 first immediate Support turns price back towards 1.4620 over today and tomorrow On the upside, a move above 1.4780 first Resistance is required to signal further recovery towards 1.4870 in mid term- Strategy-neutral.
FXDREAM GBP/USD
Date: Wed, 20 August 2008 07:30:04
Resistance levels: 1.8680/1.8730/1.8790/1.8860
Support levels: 1.8510/1.8450/1.8400
GBP/USD has recovered beyond 1.8630 yesterday Today focus will be on MPC Meeting at 11:00 GMT 7:2 vote is expected On downside, the bias remains bearish for retest towards 1.8520 over the next trading sessions Below opens territory for test of 1.8400 level in longer term On the upside, beyond 1.8660 again recovers price further towards 1.8730 over the next trading sessions- Strategy-neutral.
FXDREAM USD/JPY
Date: Wed, 20 August 2008 07:30:03
Resistance levels: 110.40/110.70/111.00
Support levels: 109.60/109.00/108.30
USD/JPY has remained ranged between 109.60 and 110.00 over the last trading sessions 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 Supportremains near 109.70 now Below turns price back to 109.00 later today and 108.40-30 bottom area in mid term Trade from Long side for test towards 110.70 and then 111.00- Strategy-neutral.
FXDREAM USD/CHF
Date: Wed, 20 August 2008 07:30:02
Resistance levels: 1.0960/1.1000/1.1050/1.1100
Support levels: 1.0900/1.0840/1.0800
USD/CHF has fallen below 1.0910 our down target yesterday after the break below 1.0960 previous crucial levels as it was suggested On the upside, above 1.0960 gaian resumes the uptrend for test towards 1.1050 later today and 1.1100 in mid term On downside, as long as price holds below 1.0960 range trade between 1.0960 and 1.0900 bottom may be seen today- Strategy-neutral.
FXDREAM EUR/JPY
Date: Wed, 20 August 2008 07:30:01
Resistance levels: 162.30/163.00/164.00
Support levels: 161.80/161.00/160.60/158.60
The Cross has recovered above 162.30 over the last trading sessions exactly as it was suggested On the upside, further recovery to 163.80-90 area may be seen later today First Resistance comes at 163.00 On downside, below 161.80 turns price back towards 161.00 in mid term- Strategy-neutral.
Published on Wed, Aug 20 2008, 07:51 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.