| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 9 January 2007 13:10:01
Resistance levels: 1.3000/1.2973/1.2930
Support levels: 1.3000/1.2973/1.2930
EUR/USD has eased down to 1.3000 level after the rally to 1.3053 in the early European Trade, supported by strong data from Germany. Poor economic calendar today ahead of the important US Trade Balance Numbers on Wednesday. In short term the bias remains bearish with first target at 1.2973 Friday double bottom. A break below may ease price further down to 1.2930 key Support before the US Trade Deficit Numbers tomorrow. On the upside, a a break above 1.3053 is with less chances for squeeze higher to 1.3080-85 area.
Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 9 January 2007 13:10:01
Resistance levels: 1.9480/1.9530
Support levels: 1.9400/1.9350/1.9254
GBP/USD has fallen towads 1.9400 first immediate Support A break below may send price lower to 1.9350 Support and even 1.9300 before the important US Trade Deficit Numbers tomorrow. On the upside, as long as price is above 1.9400 there are still chances of a further upmove towards 1.9480-85 area in the next 3 trading sessions. Look to buy on downsticks towards 1.9350 for retest of 1.9455 daily high and 1.9480 upside target.
Strategy-neutral.
FXDREAM USD/JPY
Date: Tue, 9 January 2007 13:10:01
Resistance levels: 119.70/119.90/120.40
Support levels: 119.00/118.40/118.00
USD/JPY has risen above 119.00 Friday high and first crucial Resistance earlier today.The uptrend towards 119.70 retest and higher towards 120.40 previous historical top has been resumed. First target now comes in the 119.85-90 previous high area. On downside, first immediate Support comes at 119.00. In longer term only a break below 118.00-117.95 key Support area would be sign for trend reversal and test of 117.40. Look to buy on downsticks for retest of 119.70 previous high and higher towards 119.90 and 120.40 .
Strategy-neutral.
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