| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 13 February 2007 13:10:01
Resistance levels: 1.3040/1.3070/1.3090
Support levels: 1.2980/1.2945/1.2910
EUR/USD has risen sharply to 1.3020 level earlier today after stronger than expected ZEW Sentiment Index from Germany. Now markets are waiting for US Trade Balance Numbers at 13:30 GMT. The consensus is around -59.5 Billion. If the reading comes out at -63 or more negative, we may see price boost higher towards 1.3090-1.3100 in the trading hours after the event. On the other side, if the number comes out at -57 or lower, reverse in short again towards 1.2945-43 area is likely to be seen. The key Support is at 1.2920.
Buy EUR/USD at 1.3030,Stop-loss-1.2995,Take profit-1.3090(1.3120)
FXDREAM GBP/USD
Date: Tue, 13 February 2007 13:10:01
Resistance levels: 1.9470/1.9500/1.9560
Support levels: 1.9380/1.9345/1.9260
GBP/USD has dropped sharply below our target at 1.9420 earlier today after poor UK Consumer Price Index Numbers . We have booked another 80 pip profit for the first part of our Short position Now markets are waiting for US Trade Deficit Numbers in few minutes. Soft data from USA may cause further fall towards 1.9380 and even 1.9350 later today. On the other side, strong data may turn price back to 1.9500 key Support. We are holding Short for test of 1.9380 and lower.
Holding GBP/USD Short at 1.9500,Stop-loss-1.9470( down from 1.9530,Take profit-1.9420(1.9380)
FXDREAM USD/JPY
Date: Tue, 13 February 2007 13:10:01
Resistance levels: 121.60/122.15/122.40
Support levels: 121.00/120.55/119.95
USD/JPY has failed to penetrate beyond 122.15 yesterday high in Asia, reversing back below 121.60 pre-spike levels.. The bias remains negative in short term for test of 121.00 crucial Support in short term and even 120.55 on soft data from USA. In longer term, the uptrend remains intact. First Resistance now around 121.60. A break beyond 121.60 may cause rise towards 122.15 and 122.40 in the next trading sessions.
Strategy-neutral.
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