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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated November 29, 2006, 6:33 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue,Wed, 29 November 2006 13:10:01
Resistance levels: 1.3170/1.3200/1.3240
Support levels: 1.3100/1.3070/1.3040
EUR/USD has risen to 1.3215 high in Asia unable to penetrate towards 1.3240 target. Price has eased down below 1.3150 in the last few hours. Today focus will be on US GDP Numbers and Core PCE at 13:30 GMT and New Homes Sales at 15:00 GMT. If the GDP comes out at 1.6% or less it would be bullish for the pair sending price back towards 1.3215 and 1.3240 over today and tomorrow. If the GDP comes out at 1.8% or more, deeper recovery below 1.3100 Support towards 1.3070 may be seen later today. We have US New Home Sales coming out later at 15:00 GMT with expected number at 1045 K . If the number comes out below 1000K it would be bullish for the price. On the other side, New Home Sales above 1075 K will strengthen US Dollar. Beware of conflict in the data from USA. Look to buy a break above 1.3170 again for test of 1.3240 over the upcoming days.

Strategy-neutral.

FXDREAM GBP/USD

Date: Wed, 29 November 2006 13:10:01
Resistance levels: 1.9544/1.9580/1.9630
Support levels: 1.9460/1.9390/1.9290

GBP/USD has risen beyond our target at 1.9540 overnight reaching 1.9544 record high. We have booked 80 pips profit over the first part of our Long antered yesterday at 1.8460. The bias remains bullish for further rally towards 1.9550 and 1.9580 later today on weak data from USA in few minutes.. On the other side, stronger than expected US data may caues deeper correction down towards 1.9390 before the next upwave towards 1.9550 key Resistance.fFrst minor Support comes at 1.9460 now ahead of 1.9390 previous Resistance . Hold Long for test of 1.9580 later today on soft US data later today., moving stop-loss higher to 1.9480 . A break below 1.9460 may turn price back towards 1.8400-1.8390 area later today.

Holding GBP/USD Long at 1.9460,Stop-loss-1.9480( up from 1.9420),Take profit-1.9540(1.9580)

FXDREAM USD/JPY

Date: Wed, 29 November 2006 13:10:01
Resistance levels: 116.50/117.00
Support levels: 115.85/115.40/115.10

USD/JPY has fallen down to 115.60 in Asia on strong data from Japan. recovering back towards 116.40-43 area in the last trading session. The bias remains bearish for retest of 115.40 bottom and even lower towards 115.10 in longer term as long as price is below 116.50 important Resistance. Only a break above may cause deeper recovery towards 117.35 in the next days.

Strategy-neutral.

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