| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Wed, 14 February 2007 13:10:01
Resistance levels: 1.3100/1.3120/1.3160
Support levels: 1.3050/1.3000/1.2945
EUR/USD has risen sharply beyond 1.3100 with Frankfurt Opening earlier today We have booked 60 pip profit over the first part of our Long position. Now markets are waiting for US Retail Sales( ex Autos) Numbers at 13:30 GMT and Bernanke Speech later at 15:00 GMT.The consensus is around 0.3%. If the reading is at 0.0% or below we may see price boosting towards 1.3120 after the event and 1.3150 in mid term. On the other side, US Retail Sales Number at 0.7% or higher may cause temporary pullbackl towards 1.3025 and 1.3000 key Support. Stay Long for test of 1.3120 and higher later today, trailing stop-loss higher above entry price.
Holding EUR/USD Long at 1.3030,Stop-loss-1.3048( up from 1.3000),Take profit-1.3090(1.3120)
FXDREAM GBP/USD
Date: Wed, 14 February 2007 13:10:01
Resistance levels: 1.9570/1.9610/1.9660
Support levels: 1.9470/1.9410/1.9380
GBP/USD has recovered to1.9567 high earlier today after Bank of England Inflationary report. We have booked another 80 pip profit for the first part of our Short position yesterday The second part has been stopped at 1.9470 with small 30 pip profit. Today focus will be on US Retail Sales Numbers later today at 13:30 GMT. Soft data from USA may cause further upmove towards 1.9600-10 area in the minutes after the event. On the other side, stronger than expected US Retail Sales Numbers may turn price down to 1.9470 in near term Trade from Long side for test of 1.9600-10 area.
Strategy-neutral.
FXDREAM USD/JPY
Date: Wed, 14 February 2007 13:10:01
Resistance levels: 121.60/122.15/122.40
Support levels: 120.80//120.55/119.95
USD/JPY has eased further down to 120.83 low before US Retail Sales important numbers in few minites. The bias remains negative and further decline towards 120.55 level may be seen in near term on soft data from USA. In longer term, the uptrend remains intact. First Resistance now around 121.60. A break beyond 121.60 is needed for reversal towards 122.15 and 122.40 in the next trading sessions. We have Japanese GDP Numbers later today at 23:50 GMT.
Strategy-neutral.
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