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Daily Forex Forecast

Tue, Sep 16 2008, 07:52 GMT
by FXDream Team

FXDream

• DAILY FX FORECASTS

• 
  FXDREAM EUR/USD
  Date: Tue, 16 September 2008 07:30:05
  Resistance levels: 1.4280/1.4320/1.4440
  Support levels: 1.4180/1.4130/1.4080
  EUR/USD has recovered strongly directly to 1.4480 high over the last trading days after the negative news from USA. Today focus will be on ZEW Economic Sentiment from Germany at 09:00 GMT and then US Core Consumer Price Index at 12:30 GMT The ZEW Sentiment consensus is at -53. If the number comes out at -60 , or more negative, ease towards 1.4180 first Support may be seen after the event and 1.4130 over the next two trading sessions On the upside, if the number comes out at -47 or more positive, test of 1.4320 may be seen after the event.
• Strategy-neutral.
• 
  FXDREAM GBP/USD
  Date: Tue, 16 September 2008 07:30:04
  Resistance levels: 1.8000/1.8040/1.8130
  Support levels: 1.7880/1.7820/1.7760
  GBP/USD has recovered to 1.8130 high ( beyond 1.7800 our target ) over the last trading sessions Now focus will be on UK Consumer Price Index at 08:30 GMT The consensus is at 0.5% If the number comes out at 0.7% or higher, an upmove to 1.8000 may be seen after the even and 1.8040 in mid term On downsidem if the number comes out at 0.4% or lower, ease towards 1.7830-20 area is possible after the event
• Strategy-neutral.
• 
  FXDREAM USD/JPY
  Date: Tue, 16 September 2008 07:30:03
  Resistance levels: 104.50/105.00/106.00
  Support levels: 103.50/103.00/102.60
  USD/JPY has failed to break above 108.00 previous crucial Resistance, dropping heavily below 106.10 our down target over the last trading days On downside, the bias remains bearish as long as price holds below 105.00 key Resistance for test towards 103.00 and 102.60 later today First minor Support stands near 103.50. On the upside, first important Resistance comes near 104.50 , however, a break above 105.00 is needed for confirming recovery towards 106.00 in mid term.
• Strategy-neutral.
• 
  FXDREAM USD/CHF
  Date: Tue, 16 September 2008 07:30:02
  Resistance levels: 1.1140/1.1200/1.1300
  Support levels: 1.1050/1.1000/1.0900
  USD/CHF has fallen below 1.1300 previous Support, directly down to 1.1050 lows ( below 1.1220 and 1.1130 or down suggestions )over the last trading sessions Below 1.1050 eases price to 1.1000 in short term and even 1.0900 in mid term. On the other side, first minor Resistance comes near 1.1140 Above moves price to 1.1200 later today
• Strategy-neutral.
• 
  FXDREAM EUR/JPY
  Date: Tue, 16 September 2008 07:30:01
  Resistance levels: 148.50/149.00/150.50
  Support levels: 147.50/146.50/146.00
  The Cross has risen to 153.50 our suggestion after the break beyond 152.50 level on Friday as it was suggested in our previous reports Price has turned back towards 147.50 bottom over the last trading sessions. Below 147.50 eases price further to 146.50 and even 146.00 On the upside, first Resistance stands ar 148.50, however, a break above 149.00 is needed to signal recovery to 150.50
• Strategy-neutral.

Published on  Tue, Sep 16 2008, 07:53 GMT