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Daily Forex Forecast

By Jan 15, 2008 07:00PM ET
www.investing.com/analysis/technical/daily-forex-forecast-3606
Daily Forex Forecast
By   |  Jan 15, 2008 07:00PM ET
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FXDREAM EUR/USD
Date: Wed, 16 January 2008 13:10:05
Resistance levels: 1.4850/1.4900/1.4960
Support levels: 1.4780/1.4750/1.4650
EUR/USD has eased below 1.4800 over the last trading hours Today focus will be on US Core Consumer Price Index at 13:30 GMT The consensus is at 0.2% No change in our view The uptrend remains intact for test beyond 1.4900 towards 1.4960-65 previous high area in mid and longer term . In short term, weak US data may boost price towards 1.4850 if the number comes out at 0.1% or more negative On the other side, further ease below 1.4760-50 area and even 1.4700 over the next trading sessions is not ruled out on US Core CPI at 0.3% or higher .
Strategy-neutral.

FXDREAM GBP/USD
Date: Wed, 16 January 2008 13:10:04
Resistance levels: 1.9660/1.9750/1.9830
Support levels: 1.9600/1.9560/1.9500
GBP/USD has traded below 1.9600 over the last trading sessions We have booked 60 pip profit over the first part and 140 pip profit for the rest of our Long position On the upside, beyond 1.9660 leaves chances of further recovery towards 1.9750 later today and even 1.9830 . On the other side, further downmove towards 1.9500 later today on stronger than expected US CPI and 1.9380 in longer term may be seen.
Holding GBP/USD Long at 1.9600,Stop-loss-1.9620( up from 1.9560) ,Take profit-1.9660( 1.9740)

FXDREAM USD/JPY
Date: Wed, 16 January 2008 13:10:03
Resistance levels: 106.70/107.20/108.00
Support levels: 106.00/105.50/104.20
USD/JPY has fallen further below 106.00 our next target earlier today as it was suggested No change in our view The bias remains bearish for further downmove below 106.00 and even 104.30 in longer termn First Support comes around 106.00 On the upside, a break above 107.20 Resistance again is needed for recovery towards 108.00 and 109.70 highs in longer term. In short term, above 106.50 squeezes price to 107.20 later today on better than expected US CPI Index.
Strategy-neutral.

FXDREAM USD/CHF
Date: Wed, 16 January 2008 13:10:02
Resistance levels: 1.0950/1.1060/1.1100
Support levels: 1.0830/1.0800/1.0750
USD/CHF has recovred above 1.0900 earlier today No change in our view .The bias remains bearish with next target at 1.0800 in mid term First Support comes near 1.0830 daily bottom In short term, below 1.0890 eases price back towards 1.0830 bottom On the upside, a break above 1.0950 first important Resistance again is needed for recovery towards 1.1060 and 1.1200 in longer term
Strategy-neutral.

FXDREAM EUR/JPY
Date: Wed, 16 January 2008 13:10:01
Resistance levels: 157.60/158.30/159.50
Support levels: 156.50/156.00/155.20
The Cross has dropped further to 156.50 lows earlier today as it was suggested The downtrend remains intact for further downmove towards 156.00 and 155.20 in longer term as long as price holds below 159.50 key Resistance On the other side a break above 159.50 first important Resistance is needed for recovery towards 160.50 and 161.50 in longer term. In near term, a break above 157.60 immediate Resistance may squeeze price towards 158.30
Strategy-neutral

Daily Forex Forecast
 

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Daily Forex Forecast

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