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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated November 14, 2006, 6:34 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 14 November 2006 13:10:01
Resistance levels: 1.2830/1.2870/1.2900
Support levels: 1.2800/1.2750/1.2710
EUR/USD has ignored the weaker than expected ZEW Survey Sentiment Index from Germany remaining above 1.2800-2795 strong Support area.Now markets will be focused on US PPI and Retail Sales key data at 13:30 GMT. With consensus for minus 0.2% Retail Sales Number, if the number comes out at deviating at 0.3% or higher it would be very bullish for the US Dollar. On the other side, Retail Sales number at minus 0.7% will be bearish for the US Dollar turning back the bullish EUR/USD bias. As long as price is above 1.2800 a rise towards 1.2870-80 area may be seen in short term, giving scope for retest of 1.2900 and 1.2938 up target. On the other side, a break below 1.2800 may send price lower for test of 1.2745 in near term. Look to buy on weak US data for retest of 1.2900 top and 1.2938 up target.

Buy EUR/USD at 1.2830,Stop-loss-1.2800,Take profit-1.2880(1.2935)

FXDREAM GBP/USD

Date: Tue, 14 November 2006 13:10:01
Resistance levels: 1.9000/1.9050/1.9100
Support levels: 1.8950/1.8900/1.8860

GBP/USD has dropped sharply below 1.9000 previous Support after weaker than expected UK Consumer Price Index Numbers earlier today at 09:30 GMT reaching 1.8950 previous bottom area.. Now market is waiting for US Retail Sales and PPI Numbers. Soft data may turn price back towards 1.9050 Asia highs and even higher towards 1.9090 later today. On the other side, a break below 1.8950 may send price lower to 1.8900 later today and 1.8860 tomorrow. Look to buy for recovery towards 1.9050 at least on weak data from USA.

Strategy-neutral.

FXDREAM USD/JPY

Date: Tue, 14 November 2006 13:10:01
Resistance levels: 117.85/118.30/118.55
Support levels: 117.40/117.11/116.57

USD/JPY has dropped sharply down to 117.40 after GDP Numbers Release from Japan .The sentiment has turned back into bearish territory for retest of 117.11 lows in short term and 116.57 bottom in mid-term. Only a break beyond 117.80 may shift the bias in short term for retest of 118.29 yesterday high. Trade from short side as long as price is below 117.80 for retest of 116.57 bottom.

Strategy-neutral.

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