Daily Forex Forecast
| Jan 22, 2007 07:00PM ET
FXDREAM EUR/USD
Date: Tue, 23 January 2007 13:10:05
Resistance levels: 1.3053/1.3090/1.3140
Support levels: 1.2980/1.2912/1.2895
EUR/USD has risen sharply towards 1.3030 and 1.3053 Resistance and previous high earlier today as it was suggested. 1.2900-2895 area provides strong Support base. The bias remains positive for test of 1.3050-53 first important upside target area and even higher towards 1.3088 as long as price is above 1.2900. On downside, first crucial Support now comes around 1.2980 previous Resistance. Trade from Long side for test of1.3053 and higher towards 1.3080 over today and tomorrow.
Strategy-neutral.
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FXDREAM GBP/USD
Date: Tue, 23 January 2007 13:10:04
Resistance levels: 1.9930/1.9970/1.2000
Support levels: 1.9840/1.9780/1.9715
GBP/USD has risen sharply beyond 1.9900 earlier today, setting new record for the pair. We have booked 70 pip profit over the first half of our Long position. The bias remains intact with short term target at 1.9930 and 1.2000 psychological level in mid term. On downside, first Support comes below 1.9848 previous top and then 1.9780 key one. Stay Long for test of 1.9930 later today and 1.2000 over the next couple of days.
Holding USD/GBP Long at 1.9820,Stop-loss-1.9840(up from 1.9785),Take profit-1.9890(1.9930)
FXDREAM USD/JPY
Date: Tue, 23 January 2007 13:10:03
Resistance levels: 121.50/121.90/122.30
Support levels: 120.90/120.30/119.80
USD/JPY has fallen down below 121.20 immediate Support earlier today, still trading above 121.00. In longer term, the uptrend remains intact with key Resistance in the 121.85-90 area. On downside, pullback down towards 120.30 crucial Support is possible before the next upwave for retest of 121.86 high. First Support now comes at 120.90. Stay aside for now looking to buy again on pullback and bottom formed below 121.00 for retest of 121.86 high and above.
Strategy-neutral.
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FXDREAM USD/CHF
Date: Tue, 23 January 2007 13:10:02
Resistance levels: 1.2430/1.2460/1.2530
Support levels: 1.2370/1.2340/1.2310
USD/CHF has dropped sharply below 1.2417-08 previous bottom area, signal for further downmove towards 1.2312-10 area in mid term as long as price is below 1.2450-60 key Resistance area. Further squeeze lower to 1.2370 target is likely to be seen in short term. Trade from short side for test of 1.2370 in near term and 1.2312 over the next couple of days.
Strategy-neutral.
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FXDREAM EUR/JPY
Date: Tue, 23 January 2007 13:10:01
Resistance levels: 158.25/158.60/159.00
Support levels: 157.70/157.30/157.00
The Cross has risen heavily to new record high at 158.23 earlier today as it was suggested. The uptrend has been resumed with long term target at 160.00 psychological level. Further rally towards 158.60 may be seen in short term. On downside, first immediate Suppport comes around 157.70 ahead of 157.30 stronger one. Look to buy on pullback for retest of 158.23 record high and higher towards 160.00 in longer term.
Strategy-neutral.
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