| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Fri, 27 October 2006 13:10:01
Resistance levels: 1.2715/1.2760/1.2830
Support levels: 1.2660/1.2625/1.2580
EUR/USD has eased down to 1.2660 first Support earlier today as it was suggested in our previous report. Markets are focused on US GDP Annualized at 12:30 GMT later today. The consesus is for number in the 2%-2.2% growth. With number below 2% we may see EUR/USD soaring for test of 1.2760 later today, giving scope for test of 1.2830 previous top next week. On the other side, better than expected GDP Number may turn price back to 1.2625 at least later today. Look to buy on a break beyond 1.2700 after the event for test of 1.2760 later today and 1.2830 in longer term
Strategy-neutral.
FXDREAM GBP/USD
Date: Fri, 27 October 2006 13:10:01
Resistance levels: 1.8930/1.8960/1.9000
Support levels: 1.8860/1.8800/1.8740
GBP/USD has risen after positive data from UK earlier today to 1.8924 level.. The bias remains positive for test of 1.8960 and 1.9000 later today on soft US GDP Numbers at 12:30 GMT . In longer term 1.9020 and 1.9075 previous top may be tested next week. On downside, first important Support comes at 1.8860 ahead of 1.8800 key one. Stay Long for test of 1.8960 and 1.9000 later today( as soon as price reaches 1.8960 move stop-loss higher to entry price).
Holding GBP/USD Long at 1.8900,Stop-loss-1.8870(up from 1.8860),Take profit-1.8960(1.9020)
FXDREAM USD/JPY
Date: Fri, 27 October 2006 13:10:01
Resistance levels: 118.80/119.18/119.43
Support levels: 118.25/118.00/117.40
USD/JPY has recovered slightly to 119.72 in Asia after softer than expected Consumer Price Index from Japan and remained ranged ahead of US GDP as it was suggested.. Strong data may take price higher to 119.00 and even 119.18 later today. On the other side, retest of 118.00 bottom may be seen, giving scope for test of 117.40 next week.
Strategy-neutral.
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