forexchartsnow.com, Free forex trend signal charts, 4 major currency pairs, 30 min and 15 charts updated on a 5 minute basis during normal trading hours and a forex forum.

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated May 9, 2006, 6:30 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 9 May 2006 13:10:01
Resistance levels: 1.2730/1.2780/1.2830
Support levels: 1.2650/1.2610/1.2555
EUR/USD has stayed range bound in narrow range in the morning European trade. Today markets may calculate expectations about FEDs interest hike on Wednesday Meeting and Thursday interest rates Announcement. That may give some strength for the US Dollar in the next couples of days. In short term, slight rise to 1.2725-20 first Resistance area may be seen, before the next down wave towards 1.2610-05. Range bound trade is the preferred scenario for today.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 9 May 2006 13:10:01
Resistance levels: 1.8605/1.8688/1.8710
Support levels: 1.8510/1.8470/1.8340

GBP/USD has dipped down towards 1.8510 earlier today after negative news from Europe, but price has found temporary Support around 1.8515-10 area and bounced back towards 1.8600-05. There is strong Resistance region between 1.8605 and 1.8629. It is likely to hold and we may see another downwave towards 1.8470 ahead of FEDs Meeting on Wednseday. Unfortunately, we were stopped at 1.8580 for a 40 pip Loss eralier today. Now we prefer to stay aside as range trade may be seen today.

Strategy-neutral.

FXDREAM USD/JPY

Date: Tue, 9 May 2006 13:10:01
Resistance levels: 112.30/112.80/113.60
Support levels: 111.00/110.60/110.00

USD/JPY has bounced back towards overnights lows. The sentiment remains bearish as long as 112.20-30 crucial Resistance region and yesterdays gap remains intact .Range trade between 111.30 and 112.20 is liklely to be seen today. In longer term we may target 109.00 for the pair.

Strategy-neutral.

Fx-charts.com Disclaimer: The information contained on this website is subject to change without notice, views and opinions expressed on fx-charts.com may be those of individual authors and may not necessarily be the views of fx-charts.com or its officers and employees, we make no claim to the accuracy or timeliness of any information contained herein. We recommend obtaining advice from a suitably qualified financial advisor before entering into any financial transactions or agreements. The use of this website constitutes acceptance of our privacy policy, disclaimer and terms of use. This website is available for information and educational purposes only.


	Copyright 2010 forexchartsnow.com. All rights reserved Web Hosting by d9x, Brisbane Web Design by RJF Interactive