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Daily Forex Forecast
Thu, Aug 21 2008, 07:56 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: Thu, 21 August 2008 07:30:05
Resistance levels: 1.4850/1.4900/1.4950
Support levels: 1.4750/1.4670/1.4620
EUR/USD has retested 1.4780 Resistance yesterday and beyond it earlier today Today focus will be on US Philly FED Manifacturing Index at 14:00 GMT On the upside, the move above 1.4780 first Resistance may signal further recovery towards 1.4870 and even 1.4950 over the next trading sessions On downside, first important Support comes at 1.4750 Below reverses price back to 1.46670-60 yesterday bottom area- Strategy-neutral.
FXDREAM GBP/USD
Date: Thu, 21 August 2008 07:30:04
Resistance levels: 1.8730/1.8790/1.8860
Support levels: 1.8600/1.8520/1.8450
GBP/USD has recovered beyond 1.8680 Resistance earlier today after retest of 1.8540-20 bottom area yesterday Today focus will be on UK Retail Sales numbers at 08:30 GMT The consensus is at -0.2% On downside, if the number comes out at -0.5 or more negative ease to 1.8580 after the event and retest towards 1.8520 over the next trading sessions is likely to be seen On the upside, if the number comes out at 0.1% or higher, test of 1.8780-90 key Resistance area may be seen later today- Strategy-neutral.
FXDREAM USD/JPY
Date: Thu, 21 August 2008 07:30:03
Resistance levels: 109.00/109.60/110.40
Support levels: 108.40/107.70/107.30
USD/JPY has fallen below 109.00 our first down target over the last trading sessions on the break below 109.70 previous crucial Support as it was suggested in our previous report The bias remains bearish for test of 108.40-30 previous bottom area Below eases price further to 107.70 later today and 107.30 in mid term On the upside, first immediate Resistance stands at 109.00, however, a break above 109.60 is required for resuming the uptrend back towards 110.40 and 110.70 highs- Strategy-neutral.
FXDREAM USD/CHF
Date: Thu, 21 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 spiked for test of 1.1050 our first up target yesterday , falling back towards 1.0910-00 area over the last trading sessions On the upside, a break above 1.0960 again is required for resuming the uptrend towards 1.1050 and 1.1100 in mid term On downside, below 1.0910-00 key Support area eases price back to 1.0840-30 region later today- Strategy-neutral.
FXDREAM EUR/JPY
Date: Thu, 21 August 2008 07:30:01
Resistance levels: 161.80/162.60/163.00/164.00
Support levels: 161.00/160.60/158.60
The Cross has reversed back to 161.00 bottom over the last trading sessions on the break below 161.80 Support yesterday as it was suggested On downside, the bias remains bearish and below 161.00 eases price further to 160.60 in near term and 160.00 later today In longer term 158.60 target may be set. On the upside, a beak above 161.80 first Resistance is needed to confirm retest of 162.50-60 yesterday highs region- Strategy-neutral.
Published on Thu, Aug 21 2008, 07:57 GMT
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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.