| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 24 April 2007 13:10:04
Resistance levels: 1.3600/1.3635/1.3670
Support levels: 1.3545/1.3525/1.3490
EUR/USD has remained strong towards 1.3600 first Resistance earlier today. Today the focus will be on US Consumer Confidence and Existing Home Sales at 14:00 GMT. The US Consumer Confidence consensus is at 105.0.The uptrend remains intact for test of 1.3660-70 previous record high area in mid and longer term If the number comes out at 102.0 or more negative a break beyond 1.3600 may cause retest of 1.3637 high and even 1.3670 record high later today. On downside, if the US Consumer Confidence number comes out at 108.0 or higher ease back below 1.3550 may be seen after the event and even further down to 1.3525 next Support later today. Look to buy on downsticks for test of 1.3660-70 area and even higher towards 1.3700.
Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 17 April 2007 13:10:01
Resistance levels: 2.0070/2.0100/2.0130
Support levels: 1.9950/1.9930/1.9900
GBP/USD has risen beyond 2.00 earlier today as it was suggested after Bank of England Testify .Now markets are waiting for US Consumer Confidence numbers later at 14:00 GMT. The uptrend for retest of 2.0130 high in mid term and 2.0200 target in longer term remains intact as long as price is above 1.9930 strong Support. First immediate Resistance comes around 2.0020 On the other side, stronger than expected data from USA may squeeze price lower down to 1.9930 and even 1.9900 later today .Stay Long for retest of 2.0100 and 2.0130 record high or use to buy on pullback towards 1.9900 for test of 2.0100 over the next trading days.
Holding GBP/USD at 2.0000, Stop-loss-1.9980( up from 1.9965),Take profit-2.0070(2.0120)
FXDREAM USD/JPY
Date: Tue, 24 April 2007 13:10:04
Resistance levels: 119.00/119.50/119.70
Support levels: 118.20/117.60/117.00
USD/JPY has retested 118.25-20 Support area in Asia. A break beyond 119.00 first Resistance may open territory for further rally towards 119.50 and 119.70 over the next trading days.. On the other side, soft Consumer Confidence data from USA may ease price back to 118.20 low after the event and even 117.60 Friday bottom over today and tomorrow.
Strategy-neutral.
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