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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated April 17, 2007, 8:44 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 17 April 2007 13:10:01
Resistance levels: 1.3600/1.3660/1.3700
Support levels: 1.3550/1.3500/1.3480
EUR/USD has risen towards 1.3600 as it was suggested after worse than expected US Consumer Price Index earlier today. The bias remains positive for test of 1.3660 previous record high over the next trading sessions. On downside, first minor Support comes around 1.3550 ahead of 1.3500-3480 key Support area. Look to buy on downsticks for test of 1.3660 previous record high and even higher . Strategy-neutral.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 17 April 2007 13:10:01
Resistance levels: 2.0080/2.0120
Support levels: 2.000/1.9950/1.9930

GBP/USD has risen sharply above 2.00 psychological level earlier today as it was suggested in our previous report after better than expected UK Consumer Price Index(y/y) and the soft US CPI Numbers.. We have booked 103 pip profit over our Long position. The uptrend remains intact for further rally beyond 2.0100 level tomorrow. First Resisatnce comes around 2.0080 On the other side, pullback down below 2.00 is possible later today towards 1.9960 on loss of momentum before the next upwave. . Look to buy again on pullback below 2.0000 for test of 2.0100 and even higher.

Strategy-neutral

FXDREAM USD/JPY

Date: Tue, 17 April 2007 13:10:01
Resistance levels: 119.50/120.00/120.70
Support levels: 119.00/118.20/117.80

USD/JPY has fallen down below 119.20 over the last trading sessions. The bias remains bearish in short term for further ease down towards 118.75 and even 118.20 bottom in mid term. On the other side, a break beyond 119.50 first Resistance is needed for resuming the uptrend towards 120.00 and 120.70..

Strategy-neutral.

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