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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated March 21, 2007, 7:22 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 21 March 2007 13:10:02
Resistance levels: 1.3325/1.3370/1.3480
Support levels: 1.3250/1.3220/1.3170
EUR/USD has remained quiet below 1.3325 in the last trading sessions. No change in our view. Markets are waiting for the FOMC Rate Statement later today at 18.15 GMT. The bias remains positive for further rise higher towards 1.3370 and even 1.3400 in later today. A break beyond 1.3325 minor Resistance may push price higher towards 1.3370 in short term. In longer term, first target comes at 1.3480. On downside, fall down to 1.3250 is possible later today too. 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: Wed, 21 March 2007 13:10:02
Resistance levels: 1.9620/1.9670/1.9750
Support levels: 1.9550/1.9500/1.9460

GBP/USD has fallen down to 1.9554 earlier today as Bank of England disappointed the markets voting 8:1 . Our first target at 1.9580 has been reached yesterdayand we have booked 80 pip profit over the first part of our Long position. The second part has bees taken profit 130 pip profit at 1.9630. Now the next direction will depends on FOMC Rate Policy Statement at 18:15 GMT. Dovish Bernanke Comments may boost price back towards 1.9650 and even 1.9670 after the event. First Resistance comes at 1.9620. On the other side, on hawkish FOMC Meeting further downmove to 1.9500 is not ruled out later today. First important Support comes at 1.9550.

Strategy-neutral.

FXDREAM USD/JPY

Date: Wed, 21 March 2007 13:10:02
Resistance levels: 117.40/116.90/116.50
Support levels: 117.40/116.90/116.50

USD/JPY has rebounded again towards 118.00-02 previous high earlier today as it was suggested. Beyond 118.00 may cause further upmove towards 118.50 later today after FOMC Rate Statement On downside, first Support comes around 117.40. A break below may reverse price back towards 116.90 and even 116.23 bottom in mid term.

Strategy-neutral.



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