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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated January 15, 2007, 6:56 pm

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 15 January 2007 13:10:01
Resistance levels: 1.2970/1.3015/1.3053
Support levels: 1.2910/1.2865/1.2830
EUR/USD has rebounded to 1.2957 high in the last two trading sessions despite the better than expected US Retail Sales Numbers on Friday. Price has found Support at 1.2864 on Friday. Today markets in USA will be closed for Holiday. Thin volumes and quiet trade may be seen today. Further squeeze higher towards 1.2990 is possible later today. On the other side, first immediate Support comes around 1.2910. A break below may turn the negative bias back towards 1.2864 bottom over today and tomorrow. We prefer to stay aside for now.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 15 January 2007 13:10:01
Resistance levels: 1.9700/1.9750/1.9800
Support levels: 1.9620/1.9580/1.9530

GBP/USD has risen beyond 1.9620 our target in the last trading sessions as it was suggested after US Data Release on Friday. We have booked 65 pip profit over the first half of our Long position and 95 pip profit over the rest of the position. Now the bias remains positive after the surprising Bank of England move on Thursday. Today further rally higher towards 1.9700 may be seen later today after better than expected UK PPI Output Index earlier today at 09:30 GMT , and even test of 1.9750 over tomorrow UK Consumer Price Index.First important Support comes in the 1.8590-80 region. Look to buy on pullback for test of 1..9700 and 1.9750 over today and tomorrow.

Strategy-neutral.

FXDREAM USD/JPY

Date: Mon, 15 January 2007 13:10:01
Resistance levels: 120.60/121.00/121.40
Support levels: 120.00/119.70/119.30

USD/JPY has eased down to 120.00 low in Asia. The uptrend remains intact for test of 121.00 and even 121.40 in longer term. On downside, first Support comes at 120.00 low. A break below may cause corrective fall towards 119.70 later today. Look to buy on downsticks towards for test of 121.00 and 121.40 later this week.

Strategy-neutral.

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