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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated January 18, 2007, 4:29 pm

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 18 January 2007 13:10:01
Resistance levels: 1.2950/1.3015/1.3053
Support levels: 1.2900/1.2865/1.2830
EUR/USD has fallen below 1.2930 earlier today after London Opening. Now markets are focused on the key US Core Consumer Price Index at 13:30 GMT. The consensus is at 0.2%. If the number comes out at 0.3% or higher, it may be very bullish for the USD and we may see test of 1.2864 bottom at least later today and then test of 1.2830 . On the other side, If the number comes out flat or negative, retest of 1.2883 daily high and even 1.3015 crucial Resistance may be seen. Look to sell a break below 1.2900 for test of 1.2864 bottom and 1.2830 on strong US Data.

Strategy-neutral.

FXDREAM GBP/USD

Date: Thu, 18 January 2007 13:10:01
Resistance levels: 1.9720/1.9780/1.9848
Support levels: 1.9670/1.9640/1.9590

GBP/USD has triggered our target at 1.9750-53 area earlier today , reversing back below 1.9700 after London Opening. We have booked 55 pip over the first part and 100 pips for the second part of our Long position . Now markets are waiting for the important US CPI Numbers. Stronger than expected numbers may cause sharp fall down towards 1.9600-9590 area later today and 1.9550 in the next trading sessions. On the other side, soft US data may resume the uptrend towards 1.9780 in short term mand 1.9848 previous record high in mid term.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 18 January 2007 13:10:01
Resistance levels: 121.42/121.90
Support levels: 120.90/120.30/119.70

USD/JPY has risen beyond 121.40 target as it was suggested as Bank of Japan has left the interest rate unchanged at 0.25%. The bias remains postive and a break above 121.40 cricial Resistance may squeeze price higher towards 121.80-90 area later today. On downside, first Support comes at 120.90 previous high ahead of 120.30 key one. Look to buy a break above 121.40 on strong US data for test of 121.90 and higher.

Strategy-neutral.



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