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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated March 20, 2007, 7:31 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 20 March 2007 13:10:04
Resistance levels: 1.3325/1.3370/1.3480
Support levels: 1.3250/1.3220/1.3170
EUR/USD has remained quiet earlier today . No change in our view. The bias remains positive for further squeeze higher towards 1.3370 and even 1.3400 in mid term. In longer term, first target comes at 1.3480. On downside, further squeeze lower to 1.3250 is possible in short term. The key Support is at 1.3220 . Look to buy on downsticks for test of 1.3370 and 1.3400.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 20 March 2007 13:10:04
Resistance levels: 1.9600/1.9650/1.9700
Support levels: 1.9530/1.9500/1.9420

GBP/USD has risen sharply beyond 1.9600 after better than expected Consumer Price Index Numbers from UK earlier today as it was suggested. Our first target at 1.9580 has been reached and we have booked 80 pip profit over the first part of our Long position. The bias remains positive for test of 1.9640-50 area later today and 1.9800 target in longer term. On downside, pullback down to 1.9530-30 area also is not ruled out in short term on overbought conditions. Stay Long for test of 1.9640 moving stop-loss order higher to 1.9510.

Holding GBP/USD Long at 1.9500,Stop-loss-1.9510(up from 1.9465) ,Take profit-1.9580( 1.9630

FXDREAM USD/JPY

Date: Tue, 20 March 2007 13:10:04
Resistance levels: 117.60/118.00/118.50
Support levels: 117.00/116.50/116.20

USD/JPY has fallen heavily down towards 117.00 earlier today as price has failed to penetrate beyond 118.02 Asia high. Further fall towards 116.23 weekly low is possible over today and tomorrow. First Support comes in the 117.00-116.90 region. On the other side, only beyond 117.60 may negate the bearish bias resuming the uptrend towards 118.50 in longer term.

Strategy-neutral.



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