| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Fri, 12 January 2007 13:10:01
Resistance levels: 1.2930/1.2970/1.3015
Support levels: 1.2880/1.2830/1.2800
EUR/USD has remained quiet earlier today as market is waiting for US Retail Sales key numbers at 13:30 GMT. The bias remains bearish for test of 1.2830-27 area and even lower to 1.2800. First Support comes at 1.2880 Asia low. The consensus for the US Core Retail Numbers ( less Autos) is at 0.5%. If the reading comes out at 0.8% or better, test of 1.2830 may be seen after the event and 1.2800 in mid term. On the other side, If the number comes out at 0.2% or lower, rebound towards 1.2970-75 is likely to be seen later today. Look to sell a break below 1.2880 Support on strong US Data for test of 1.2830 and 1.2800.
Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 12 January 2007 13:10:01
Resistance levels: 1.9530/1.9600/1.9650
Support levels: 1.9455/1.9390/1.9315
GBP/USD has rebounded above 1.9500 again earlier today on the bullish bias after the surprising Bank of england move yesterday. The bias remains positive before the key US Retail Sales data in few minutes. A break above 1.9525-30 Resistance area may boost price higher to 1.9600-20 area over today and Monday next week. On the other side, disappointing US Data may turn price back towards 1.9410 in short term and 1.9390 over the next trading sessions. Look to buy on a break above 1.9525 on waek US data for test of 1.9600-20 area. We are holding also Long USD/CHF position
Buy GBP/USD at 1.9525,Stop-loss-1.9490,Take profit-1.9590(1.9620)
FXDREAM USD/JPY
Date: Fri, 12 January 2007 13:10:01
Resistance levels: 120.71/121.00/121.40
Support levels: 120.25/119.70/119.30
USD/JPY has eased slightly down to 120.25 low before the key US Retail Sales Numbers Release in few minutes. The uptrend remains intact for test of 121.00 and even 121.40 in mid term. On downside, first Support comes at 120.30. A break below may cause corrective fall towards 119.80-70 area later today. Look to buy on downsticks for test of 121.00 and 121.40 on strong US Data.
Strategy-neutral.
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