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Daily Forex Forecast

Tue, Sep 9 2008, 07:56 GMT
by FXDream Team

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  • DAILY FX FORECASTS


  • FXDREAM EUR/USD
    Date: Tue, 9 September 2008 07:30:05
    Resistance levels: 1.4150/1.4250/1.4310
    Support levels: 1.4100/1.4050/1.4000
    EUR/USD has dropped heavily directly to 1.4050 new lows yesterday Today focus will be on Bernanke Speech at 15:00 GMT On downside, the bias remains negative with first Support at 1.4100 Below cause retest of 1.4050 and test of 1.4000 psychological level On the upside, first Resistance comes near 1.4150 Beyond recovers price further to 1.4250 later today
  • Strategy-neutral.

  • FXDREAM GBP/USD
    Date: Tue, 9 September 2008 07:30:04
    Resistance levels: 1.7670/1.7740/1.7800
    Support levels: 1.7530/1.7500/1.7470
    GBP/USD has fallen heavily directly below 1.7500 yesterday ( below 1.7610 our down target) after the break below 1.7750 previous Support Today focus will be on UK Industrial Output number at 08:30 GMT The consensus is at -0.1% If the number comes out at 0.0% or higher, recovery to 1.7670 may be seen after the event and eventually 1.7740 in mid term On downside, if the number comes out at -0.2% or more negative, ease to 1.7500 and 1.7470 bottom is likely to be seen after the event
  • Strategy-neutral.

  • FXDREAM USD/JPY
    Date: Tue, 9 September 2008 07:30:03
    Resistance levels: 107.80/108.40/109.00/109.40
    Support levels: 107.30/106.80/106.20
    USD/JPY has eased down to 107.80 yesterday and 107.30 lows earlier today on the break below 108.40 previous key Support. Now price meets immediate Resistance at 107.80 Above that level recovers price up to 108.40 in short term On downside, below 107.30 first important Support eases price further to 106.80 later today
  • Strategy-neutral.

  • FXDREAM USD/CHF
    Date: Tue, 9 September 2008 07:30:02
    Resistance levels: 1.1370/1.1450/1.1560
    Support levels: 1.1270/1.1220/1.1130
    USD/CHF has broken beyond 1.1200 yesterday, boosting price directly to 1.1370 over the last trading sessions ( beyond our targets at 1.1270 and 1.1300 )Now first minor Resistance comes near 1.1350 ahead of 1.1370 previous highs Beyond opens territory for test towards 1.1470 and even 1.1560 in longer term On downside, there is crucial Support at 1.1270 Below may cause pullback to 1.1220 later today
  • Strategy-neutral.

  • FXDREAM EUR/JPY
    Date: Tue, 9 September 2008 07:30:01
    Resistance levels: 153.30/153.70/155.00
    Support levels: 151.50/150.80/150.00
    The Cross has broken below 155.10-00 previous key Support area, falling directly below 151.00 over the last trading sessions ( below 153.70 our down target ) The bias remains bearish in mid and longer term and a fall below 151.50 first Support eases price back t0 150.80 bottom and 150.00 psychological level. On the upside, recovery to 153.30 and even 153.60-70 area is possible later today as long as price holds above 151.50
  • Strategy-neutral.

Archive

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Legal disclaimer and risk disclosure

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.


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