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Daily Forex Forecast
Tue, Aug 26 2008, 07:51 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: Tue, 26 August 2008 07:30:05
Resistance levels: 1.4750/1.4800/1.4900
Support levels: 1.4660/1.4610/1.4550
EUR/USD has eased below 1.4700 earlier today Now focus will be on IFO Business Climate numbers from, Germany at 08:00 GMT The consensus is at 97.1. On downside, If the number comes out at 96.0 or lower, further ease towards 1.4620-10 previous bottom area i short term and 1.4550 is likely to be seen later today First Support stands at 1.4660 On the other side, if the number comes out at 98.0 or better, reversal to 1.4750 first Resistance after the event and 1.4800 yesterday highs over the last trading sessions is possible- Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 26 August 2008 07:30:04
Resistance levels: 1.8500/1.8540/1.8600
Support levels: 1.8400/1.8300/1.8180
GBP/USD has retested 1.8400 bottom earlier today after pullback up towards 1.8600 key Resistance yesterday No change in our view. On downside, the bias remians bearish with key Support at 1.8400 Below unlocks further downmove towards 1.8300 over the next trading sessions and 1.8180 in longer term On the upside, if 1.8400 Support holds, rebound towards first Resistance near 1.8500 is possible later today- Strategy-neutral.
FXDREAM USD/JPY
Date: Tue, 26 August 2008 07:30:03
Resistance levels: 110.40/110.70/111.00
Support levels: 109.50/109.10/108.40
USD/JPY has tested 1.0910-00 our down target area over the last trading sessions exactly as it was suggested in our previous reports On the upside, the bias remains positiv for retest of 110.40 and 110.70previous highs later today First Resistance comes near 110.40 On donside, below 109.50 first immediate Support may cause pullback down to 109.10 again later today- Strategy-neutral.
FXDREAM USD/CHF
Date: Tue, 26 August 2008 07:30:02
Resistance levels: 1.1030/1.1050/1.1100
Support levels: 1.0970/1.0900/1.0840
USD/CHF has risen towards 1.1030-50 highs area earlier today after pullback down to 1.0920 yesterday on the break below 1.0970 previous crucial Support On the upside, as long as price trades above 1.0970 key Support the uptrend remains intact for test towards 1.1050 and 1.1100 later today and 1.1170 in mid term On downside, below 1.0970 key Support turns price back towards 1.0920-00 area over the last trading sessions- Strategy-neutral.
FXDREAM EUR/JPY
Date: Tue, 26 August 2008 07:30:01
Resistance levels: 161.80/162.40/163.00
Support levels: 160.60/160.20/158.60
The Cross has eased back below 161.00 previous bottom and our traget over the last trading sessions as it was suggested in our previous report after the break below 161.80 previous crucial Support On the downside, the bias remains bearish with next target at 160.20-10 area and 158.60 in longer term On the other side, in short term , pullback up to 161.80 first important Resistance also is not ruled out Above 161.80 turns price back to 162.30-40 yesterday highs region- Strategy-neutral.
Published on Tue, Aug 26 2008, 07:52 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.