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Daily Forex Forecast

Tue, Sep 2 2008, 07:48 GMT
by FXDream Team

FXDream

• DAILY FX FORECASTS 

• 
  FXDREAM EUR/USD
  Date: Tue, 2 September 2008 07:30:05
  Resistance levels: 1.4600/1.4670/1.4720
  Support levels: 1.4520/1.4450/1.4400
  EUR/USD has fallen to 1.4670 our down target on Thursday after better than expected ( 3.3% ) US GDP numbers and even further down to 1.4520 new lows over the last trading sessions Today focus will be on US ISM Manifacturing Index at 14:00 GMT The consensus is at 49.8 On downside, the bias remains bearish with important first Support at 1.4520 Below eases price further down to 1.4450 later today On the other side, there is strong Resistance at 1.4600 A break above 1.4600 recovers price towards 1.4670 over the next trading sessions
• Strategy-neutral.
• 
  FXDREAM GBP/USD
  Date: Tue, 2 September 2008 07:30:04
  Resistance levels: 1.7940/1.8020/1.8080
  Support levels: 1.7850/1.7800/1.7750
  GBP/USD has tested 1.8180 our down target on Friday and tumbled down to 1.7850 lows over the last trading sessions on closed US markets yesterday On downside, the bias remians bearish with next target at 1.7750 and even 1.7300 in longer term First Support comes near 1.7850 On the upside, first important Resistance comes near 1.7940 Beyond recovers price towards 1.8020 and 1.8080 over the next couple of days
• Strategy-neutral.
• 
  FXDREAM USD/JPY
  Date: Tue, 2 September 2008 07:30:03
  Resistance levels: 108.60/109.10/109.70
  Support levels: 107.60/107.10/106.50
  USD/JPY has fallen down to 108.40 our down target and then even 107.60 lows over the last trading sessions As long as price trades below 108.50-60 first Resistance area the bias remains negative for test of 107.00 and 106.50 lows over the next trading days On the upside, first Resistance comes near 108.50 Beyond turns price up back to 109.10-20 area later today and even 109.70 in mid term
• Strategy-neutral.
• 
  FXDREAM USD/CHF
  Date: Tue, 2 September 2008 07:30:02
  Resistance levels: 1.1080/1.1110/1.1170
  Support levels: 1.1030/1.0970/1.0900
  USD/CHF has risen to 1.1030 our up target on Friday and 1.1080 next one over the last trading sessions as it was suggested On the upside, The bias remains positive with first important Resistance at 1.1100-10 area Beyond moves price up higher to 1.1170 over the next trading sessions On downside, first key Support comes at 1.1030 Below may turn price back to 1.0970 levels
• Strategy-neutral.
• 
  FXDREAM EUR/JPY
  Date: Tue, 2 September 2008 07:30:01
  Resistance levels: 157.60/158.20/158.60/159.00
  Support levels: 157.00/156.00/155.40
  The Cross has dropped heavily below 158.60 our longer term target over the last trading sessions In mid term the bias remains negative for test of 155.50-40 area in longer term First important Support stands at 157.00 daily bottom Below unlocks further ease to 156.00 and 155.40 levels On the upside, first minor Resistance comes at 157.60, however, a break above 158.20 is required to signal recovery towards 158.60 and 159.00
• Strategy-neutral.

Published on  Tue, Sep 2 2008, 07:49 GMT