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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated January 23, 2007, 7:33 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 23 January 2007 13:10:02
Resistance levels: 1.3053/1.3090/1.3140
Support levels: 1.2980/1.2912/1.2895
EUR/USD has risen sharply towards 1.3030 and 1.3053 Resistance and previous high earlier today as it was suggested. 1.2900-2895 area provides strong Support base. The bias remains positive for test of 1.3050-53 first important upside target area and even higher towards 1.3088 as long as price is above 1.2900. On downside, first crucial Support now comes around 1.2980 previous Resistance. Trade from Long side for test of1.3053 and higher towards 1.3080 over today and tomorrow.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 23 January 2007 13:10:01
Resistance levels: 1.9930/1.9970/1.2000
Support levels: 1.9840/1.9780/1.9715

GBP/USD has risen sharply beyond 1.9900 earlier today, setting new record for the pair. We have booked 70 pip profit over the first half of our Long position. The bias remains intact with short term target at 1.9930 and 1.2000 psychological level in mid term. On downside, first Support comes below 1.9848 previous top and then 1.9780 key one. Stay Long for test of 1.9930 later today and 1.2000 over the next couple of days.

Holding USD/GBP Long at 1.9820,Stop-loss-1.9840(up from 1.9785),Take profit-1.9890(1.9930)

FXDREAM USD/JPY

Date: Tue, 23 January 2007 13:10:02
Resistance levels: 121.50/121.90/122.30
Support levels: 120.90/120.30/119.80

USD/JPY has fallen down below 121.20 immediate Support earlier today, still trading above 121.00. In longer term, the uptrend remains intact with key Resistance in the 121.85-90 area. On downside, pullback down towards 120.30 crucial Support is possible before the next upwave for retest of 121.86 high. First Support now comes at 120.90. Stay aside for now looking to buy again on pullback and bottom formed below 121.00 for retest of 121.86 high and above.

Strategy-neutral.



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