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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated February 12, 2007, 9:43 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 12 February 2007 13:10:01
Resistance levels: 1.2990/1.3040/1.3070
Support levels: 1.2945/1.2910/1.2863
EUR/USD has drooped below 1.2975 previous key Support down to 1.2943 low. No important fundamental news today. The bias is bearish in short term for test of 1.2920-10 bottom area over the next couple of days. On the upside, first Resistance comes at 1.2990 ahead of 1.3045 high. Look to sell on rebound towards 1.2990 for test of 1.2920-10 bottom area.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 12 February 2007 13:10:01
Resistance levels: 1.9500/1.9560/1.9610
Support levels: 1.9425/1.9380/1.9345

GBP/USD has dropped down towards 1.9425-20 Support area as it was suggested in our previous report, supported by the soft UK PPI Numbers earlier today. We have booked small 55 pip profit for the first part of our Short position. The bias remains bearish for test of 1.9420 later today and 1.9380 in mid term. On the upside, first immediate Resistance comes around 1.9500 ahead of 1.9550-60 area. Stay Short for test of 1.9425 later today and 1.9380 over today and tomorrow. Trail stop-loss lower below entry price..

Holding GBP/USD Short at 1.9510,Stop-loss-1.9505( down from 1.9545),Take pofit-1.9455(1.9420)

FXDREAM USD/JPY

Date: Mon, 12 February 2007 13:10:01
Resistance levels: 122.15/122.40
Support levels: 121.60/121.00/120.50

USD/JPY has spiked sharply to 122.13 high in Asia after G7 Meeting in Essen , Germany, falling back below pre-spike levels earlier today as it was suggested.. In longer term the uptrend remains intact and break above 122.20 previous high may boost price higher towards 124.00 in longer term. On the other side, pullback below pre-spike levels 1round 121.60 is also possible towards 121.00 key Support.

Strategy-neutral.

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