| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Tue, 7 November 2006 13:10:05
Resistance levels: 1.2775/1.2800/1.2830
Support levels: 1.2735/1.2700/1.2680
EUR/USD has eased down below 1.2750 earlier today as EU Retail Sales has decreased down to minus 06% versus 0.2% expected. The bias, however, remains intact for retest of 1.2799 high in short term and 1.2830 previous top in mid term. Keep an eye on US Elections in the next days. On downside, first important Support comes at 1.2735 ahead of 1.2682-80 Friday bottom area and strong Support. Look to buy on downsticks for test of 1.2830 in the next days.
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Strategy-neutral.
FXDREAM GBP/USD
Date: Tue, 7 November 2006 13:10:05
Resistance levels: 1.9100/1.9142
Support levels: 1.9030/1.9000/1.8950
GBP/USD has risen further up towards 1.9100 as it was suggested.. As long as price is above 1.9000 important Support( previous Resistance) further rally towards 1.9100 and 1.9142-46 previous high area may be seen in the next trading sessions. On the other side, first minor Support comes at 1.9030 ahead of 1.8950 key one.. Hold Long for test of 1.9138-46 area in mid term, moving stop-loss higher to 1.9035.
Holding GBP/USD Long at 1.9055,Stop-loss-1.9035( up from 1.9010),Take profit-1.9110(1.9140)
FXDREAM USD/JPY
Date: Tue, 7 November 2006 13:10:05
Resistance levels: 117.80/118.20/118.50
Support levels: 117.35/117.15/116.57
USD/JPY has fallen further down towards 117.35 Support as it was suggested after the sharp fall down below 117.80 previous Support in Asia reversing the uptrend again surprisingly after Fukui Comments for impending Bank of Japan interest rate hike to 0,5% . . Next target is at 117.15 pre-US Jobless key data on Friday. On the upside, a break again beyond 117.80 is needed for resuming the uptrend towards 118.50 and higher.
Strategy-neutral.
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