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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated April 16, 2007, 5:06 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 16 April 2007 13:10:01
Resistance levels: 1.3580/1.3600/1.3660
Support levels: 1.3500/1.3480/1.3440
EUR/USD has remained quiet earlier today as markets are waiting for US Advance Retail Sales Numbers at 12:30 GMT. The US Retail Sales( ex autos) is expected at about 0.8%. If the number comes out at 0.0% or more negative further rally towards the next targets next targets at 1.3600 and 1.3660 previous record high may be seen after the event. On downside, if the number comes out at 1.5% or stronger, ease down towards 1.3500-3480 area is likely later today. Look to buy on downsticks for test of 1.3600 and 1.3660.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 16 April 2007 13:10:01
Resistance levels: 1.9940/2.000
Support levels: 1.9870/1.9830/1.9780

GBP/USD has risen to 1.9938 record high earlier today after better than expected UK PPI Numbers as it was suggested. Now focus is on the key US Retail Sales numbers in few minutes. Soft data from USA may renew the uptrend towards 2.00 psychological level over today and tomorrow. On the other side, stronger than expected US Retail Sales may ease price back towards 1.9830 after the event. First minor Support comes around 1.9870. Stay Long for test of 2.00 over today and tomorrow on soft US data.

Holding Long GBP/USD at 1.9892,Stop-loss-1.9880(up from 1.9857), Take profit-1.9950(1.9995)

FXDREAM USD/JPY

Date: Mon, 16 April 2007 13:10:01
Resistance levels: 119.70/120.00/120.70
Support levels: 119.20/118.80/118.20

USD/JPY has rebounded beyond 119.55 previous Resistance in the last trading sessions The uptrend remains intact for further rise towards 120.00 and even 120.70-75 area in mid term. On downside, below 119.20 first minor Support may turn price back to 118.75 in near term and even 118.20 Friday bottom in mid term on disappointing US Retail Sales Numbers.

Strategy-neutral.

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