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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated January 3, 2007, 7:52 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 3 January 2007 13:10:01
Resistance levels: 1.3260/1.3292/1.3320
Support levels: 1.3200/1.3160/1.3110
EUR/USD has eased down towards 1.3205-00 crucial Support area after London Opening today. Now focus will be on US ISM Manifacturing Index at 15:00 GMT with consensus between 50.00-50.50. If this reading shows 49 or lower, EUR/USD may resume its move towards 1.3320 and 1.3364 previous high in mid term. On the other side, If this reading shows 52 or higher, further downmove towards 1.3170-60 area may be seen later today. In longer term, FOMC Meeting from December 12 Release at 19:00 GMT later today is expected to give us clear picture about the longer term direction.

Strategy-neutral.

FXDREAM GBP/USD

Date: Wed, 3 January 2007 13:10:01
Resistance levels: 1.9670/1.9700/1.9752
Support levels: 1.9560/1.9510/1.9430

GBP/USD has dropped sharply down below 1.9600 Support before US Data Release in few minutes. Further downmove towards 1.9514-10 previous bottom may be seen over today and tomorrow on strong data from USA. On the other side, a rise again above 1.9670 is needed for resuming the uptrend towards 1.9752 high and 1.9800. Stay aside for now ahead of FOMC Meeting later today.

Strategy-neutral.

FXDREAM USD/JPY

Date: Wed, 3 January 2007 13:10:01
Resistance levels: 119.50/119.85
Support levels: 118.95/118.50/118.00

USD/JPY has remained strong above 118.50 crucial Support in the first days of the new year. The uptrend remains intact for retest of 119.85-88 previous high area over the next trading sessions. On downside, first trend Support comes at 118.95 ahead of 118.50 key one. Look to buy on downsticks on strong data from USA for test of 119.85 over today and tomorrow

Strategy-neutral.

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