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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated February 23, 2007, 7:09 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 23 February 2007 13:10:01
Resistance levels: 1.3140/1.3193/1.3220
Support levels: 1.3090/1.3070/1.3045
EUR/USD has remained limited below 1.3140 earlier today as IFO Business Climate Index from Germany came out at 107.0, around the expectations. The uptrend remains intact for further rally towards 1.3190-93 previous high area in the next trading sessions and even 1.3260 and 1.3292 in longer term. On downside, a break below 1.3082 weekly low is needed for reversal back towards 1.3045 and below. Trade from Long side for test of 1.3193 and 1.3260 in longer term.

Strategy-neutral.

FXDREAM GBP/USD

Date: Fri, 23 February 2007 13:10:01
Resistance levels: 1.9630/1.9680/1.9730
Support levels: 1.9570/1.9530/1.9460

GBP/USD has risen to 1.9630 Resistance earlier today supported by strong data from UK. .The bias remains positive for retest of 1.9676 previous high at least and further towards 1.9730-50 area next week. On downside, only below 1.9570 first immediate Support may ease price lower back towards 1.9536 daily low. Stay Long for retest of 1.9676 previous high and 1.9730-50 area next week.

Holding GBP/USD Long at 1.9600,Stop-loss-1.9570,Take profit-1.9670(1.9720)

FXDREAM USD/JPY

Date: Fri, 23 February 2007 13:10:01
Resistance levels: 121.60/121.80/122.20
Support levels: 121.00/120.50/119.71

USD/JPY has risen further to 121.61 high in Asia .The uptrend remains intact in longer term and further upmove towards 122.13-20 previous high is likely over the next two trading days. On downside,first Support comes at 121.00. A break below signals temporary pullback towards 120.50-45 area. Look to buy on pullback below 121.00 for test of 122.13-20 area

Strategy-neutral.



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