| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 29 January 2007 13:10:01
Resistance levels: 1.2940/1.2970/1.3000
Support levels: 1.2880/1.2864/1.2830
EUR/USD has found Support at 1.2880 on Friday after better than expected US Factory Orders. Price has left flat after London Opening. Today quiet trading is likely to be seen ahead of FOMC Meeting on Wednesday. No important fundamental news today. No change in our view. The bias remains bearish for test of 1.2864 bottom later this week. On the upside, first Resistance comes in the 1.2940-44 area. Stay aside for now.
Strategy-neutral.
FXDREAM GBP/USD
Date: Mon, 29 January 2007 13:10:01
Resistance levels: 1.9615/1.9680/1.9715
Support levels: 1.9550/1.9516/1.9474
GBP/USD has fallen further down below 1.9555 Friday low earlier today. No change in our view. The bias remains bearish and further fall towards 1.9520-15 area is possible later today.The next target is at 1.9475. In longer term, deeper retrace towards 1.9380 may be seen. On the upside, first Resistance comes at 1.9615 ahead of 1.9630-40 area. Look to sell on upsticks for test of 1.9515 and lower towards 1.9475 in the next trading sessions.
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 29 January 2007 13:10:01
Resistance levels: 122.20/122.60
Support levels: 121.65/121.20/120.75
USD/JPY has risen above 121.85-90 previous key Resistance area and previous high in Asia supported by weak data from Japan. The uptrend remains intact for test of 122.40 and 122.60 in short term and 124.00 in longer term. On downside, first minor Support comes at 121.65 previous Support ahead of 121.20 stronger one. Today focus will be on Industrial Production Numbers from Japan at 23:50 GMT. Look to buy on downsticks for retest of 122.20 high and 121.60 in short term and 124.00 in longer term.
Strategy-neutral.
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