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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated January 8, 2007, 7:27 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 8 January 2007 13:10:01
Resistance levels: 1.3025/1.3080/1.3110
Support levels: 1.2973/1.2930/1.2900
EUR/USD has dropped down to 1.2973( just a shy away from 1.2960 suggestion) on Friday as NFP came out 167 K, better than anticipated. No important news today. The bias remains bearish for test of 1.2960 and 1.2930 key Support in the next trading sessions.. On the upside, first immedate Resistance comes at .1.3026 daily high. Trade from short side for test of 1.2930 over today and tomorrow.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 8 January 2007 13:10:01
Resistance levels: 1.9350/1.9435/1.9480
Support levels: 1.9254/1.9200/1.9160

GBP/USD has fallen sharply down to 1.9254 low on Friday after the key Jobless data Release as it was suggested. Our target at 1.9280 has been reached for 90 pip profit over our Short position. Price has remained below 1.9350 first immediate Restance earlier today. First Support now comes at 1.9290. A break below may send price lower to 1.9254 Friday bottom in near term and even lower down towards 1.9210-00 area. Trade a break below 1.9290 for test of 1.9210-00 area.

Strategy-neutral.

FXDREAM USD/JPY

Date: Mon, 8 January 2007 13:10:01
Resistance levels: 119.00/119.70
Support levels: 118.50/118.00/117.40

USD/JPY has risen to 119.00 after better than expected NFP Numbers from USA on Friday. Price has eased down below 118.50 again in Asia despite closed Japanese Market today. The bias remains bearish on Bank of Japan interest hike rumours. A break below 118.00-117.95 Support area would signal further decline down to 117.40 over the next couple of days. On the upside, retest of 119.00 may be seen. A break above 119.00 is likely to resume the uptrend towards 119.70 and higher towards 120.40 previous high in longer term.

Strategy-neutral.

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