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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated April 13, 2007, 5:00 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 13 April 2007 13:10:01
Resistance levels: 1.3560/1.3600
Support levels: 1.3490/1.3440/1.3400
EUR/USD has risen towards 1.3560 target in the last trading sessions as it was suggested. . Today focus will be on US PPI Index and Trade Balance numbers at 12:30 GMT. The Core PPI is expected at 0.2%. If it comes out at -0.6% or more negative further rally higher beyond 1.3560 towards 1.3600 later today may be seen. On the other side, ex Food and Energy PPI Number at 1.0% or higher may turn price back towards 1.3490-80 first Support region region after the event. Trade from Long side for test of 1.3560 and higher towards 1.3600.

Strategy-neutral.

FXDREAM GBP/USD

Date: Fri, 13 April 2007 13:10:01
Resistance levels: 1.9890/1.9916
Support levels: 1.9850/1.9800/1.9750

GBP/USD has risen to 1.9888 high ( just a shy away from our second target) earlier today as it was suggested We have booked 70 pip profit over the first part of our Long position.. The uptrend remains intact for test of 1.9916 record previous high in near term at least. On downside, first minor Support comes around 1.9850 ahead of 1.9800 stronger Support area. Stay Long for test of test of 1.9916 at least . Move stop-loss higher to 1.9830

Holding GBP/USD Long at 1.9780,Stop-loss-1.9830( up from 1.9750),Take profit-1.9850(1.9895)

FXDREAM USD/JPY

Date: Fri, 13 April 2007 13:10:01
Resistance levels: 118.80/119.20/119.60
Support levels: 118.20/117.80/117.50

USD/JPY has fallen down further down to 118.20 earlier today The bias remains negative for further ease down towards 117.80 and even 117.50 in mid term. On the other side, stronger than expected fundamental data from USA in few minutes may rebound price 118.80-85 first Resistance area later today.

Strategy-neutral.



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