| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Thu, 9 November 2006 13:10:01
Resistance levels: 1.2810/1.2830/1.2875
Support levels: 1.2750/1.2725/1.2680
EUR/USD has risen to 1.2800 after London Opening earlier today. The bias remains positive for retest of 1.2830 at least later today. Today focus will be on US Trade Balance at 13:30 GMTin few minutes. If the number come out at minus 70 bln or more negative we may see price surging beyond 1.2830 to 1.2850 later today On the other side, if US Trade Deficit number come out at -63 or less negative, price may retest 1.2750-40 Support area again later today. Look to buy on negative data for retest of 1.2830 ,giving scope for further rise towards 1.2875 over today and tomorrow.
Strategy-neutral.
FXDREAM GBP/USD
Date: Thu, 9 November 2006 13:10:01
Resistance levels: 1.9100/1.9142
Support levels: 1.9020/1.9000/1.8950
GBP/USD has fallen back below 1.9025 Asia bottom in the last trading hour after Bank of England expected interest rate hike to 5.00% earlier today. Now the next direction will depends on US Trade Deficit Numbers at 13:30 GMT. Weak data may boost price again for retest of 1.9120 and even 1.9138-46 area later today. On the other side, sharp drop down towards 1.8950 bottom also is possible on stronger than expected numbers. Look to sell a break below 1.9020 on strong data from USA for test of 1.8950.
Strategy-neutral.
FXDREAM USD/JPY
Date: Thu, 9 November 2006 13:10:01
Resistance levels: 118.20/118.50/118.75
Support levels: 117.80/117.35/117.00
USD/JPY has tested 118.20 first minor Resistance earlier today ahead of US Trade Balance numbers today. Now the next directions in short term will depends on that event. Strong data from USA may boost price towards 118.50 at least in short term and even 118.75. On the other side, a break below 118.00 again may turn price down to 117.35 in the next trading sessions.
Strategy-neutral.
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