| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 2 April 2007 13:10:01
Resistance levels: 1.3400/1.3450/1.3480
Support levels: 1.3330/1.3290/1.3250
EUR/USD has found strong Support at 1.3290 on Friday bouncing sharply towards 1.3400-10 previous high and target area as it was suggested.. Today the focus will be on US ISM Manifacturing Index at 14:00 GMT. The consensus is around 51.0. The uptrend remains intact as long as price is above 1.3330 first immediate Support for test of 1.3410 and even 1.3450 later today. The upward target remains at 1.3480. On downside, stronger than expected data from USA later today may turn price back towards 1.3330-20 in short term and 1.3290 bottom in mid term. Trade from long side for test of 1.3450 and 1.3480.
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 2 April 2007 13:10:01
Resistance levels: 1.9800/1.9850/1.9915
Support levels: 1.9700/1.9665/1.9600
GBP/USD has risen further towards 1.9800 earlier today as it was suggested. We have booked 55 pip profit for the first part of our Long posiotion at 1.9795 earlier today. The bias remains bullish for test of 1.9850 at least over today and tomorrow and even retest of 1.9916 previous record high in longer term. On the other side, stronger than expected US ISM Manifacturing Numbers may ease price lower towards 1.9710-00 area after the event. Stay Long for test of 1.9850 over the next trading sessions.
Holding GBP/USD Long at 1.9740,Stop-loss-1.9740( up from 1.9700), Take profit-1.9795(1.9840)
FXDREAM USD/JPY
Date: Mon, 2 April 2007 13:10:01
Resistance levels: 118.00/118.50/118.80
Support levels: 117.10/116.40/116.20
USD/JPY has fallen sharply to 117.10 Support on Friday after the US sanctions announce. Retest of 117.10-00 area is not ruled out in short term later today. Below may turn price back to 116.22-20 bottom. On the other side, beyond 118.00 may resume the uptrend towards 118.40-50 area and 118.80 in mid term on stronger than expected data from USA.
Strategy-neutral.
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