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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated March 26, 2007, 6:57 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 26 March 2007 13:10:01
Resistance levels: 1.3290/1.3350/1.3410
Support levels: 1.3250/1.3220/1.3170
EUR/USD has remained quiet above 1.3250 strong Support earlier today as market is waiting for the US New Home Sales Numbers at 14:00 GMT. The consensus is about 990 K . If the number comes out at 1150 K or more positive we may see further squeeze lower towards 1.3220 key Support after the event. On the other side, If the reading comes out at 850 K or more negative , rebound towards 1.3345-50 area may be seen later today. First immediate Resistance comes at 1.3290 now. In longer term the uptrend remains intact as long as price is above 1.3220 for test of 1.3480 and higher.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 26 March 2007 13:10:01
Resistance levels: 1.9670/1.9690/1.9730
Support levels: 1.9580/1.9554/1.9510

GBP/USD has eased below 1.9600 previous Support after US Existing Home Sales on Friday. The uptrend remains intact for retest of 1.9730-50 area and even higher towards 1.9800 in longer term. A break beyond 1.9670 first important Resistance is needed for resuming the uptrend towards 1.9730 and higher. In short term, soft data from USA may boost price higher towards 1.9690 and 1.9730 later today. On the other side, stronger than expected New Home Sales numers from USA may turn price back to 1.9580 and even 1.9554 bottom in the next trading sessions. First Support comes around 1.9580 Asia lows. As soon as price reaches 1.9700, move stop-loss higher to entry price.

Buy GBP/USD at 1.9660,Stop-loss-1.9625,Take profit-1.9720(1.9780)

FXDREAM USD/JPY

Date: Mon, 26 March 2007 13:10:01
Resistance levels: 118.50/118.90/119.25
Support levels: 117.80/117.30/116.90

USD/JPY has risen further towards 118.50 first target earlier today as it was suggested. The uptrend remains intact before the US New Home Sales Release for test of 118.90 and even 119.25 previous bottom in the next trading sessions on positive data from USA . On downside, soft data may turn price back towards 117.80-75 Support area after the event.

Strategy-neutral.



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