Daily Forex Forecast

FXDREAM EUR/USD
Date: Mon, 30 April 2007 13:10:05
Resistance levels: 1.3655/1.3700/1.3750
Support levels: 1.3585/1.3545/1.3525

EUR/USD has remained well supported above 1.3585 crucial Support earlier today. The focus today will be on US PMI Chicago Manifacturing Index at 13:45 GMT as an signal before the important ISM Manifacturing Numbers tomorrow. The consensus is at 54. If the number comes out at 50 or more negative , we may see price rising further towards 1.3655-57 first Resistance area later today. On the other side, PMI Chicago number at .60 or higher, price may turn back towards 1.3585 Support after the event. In longer term the uptrend remains intact for test of 1.3700 and 1.3750 as long as price is above 1.3545-40 key Support region.

Strategy-neutral.

FXDREAM GBP/USD
Date: Mon, 30 April 2007 13:10:04
Resistance levels: 1.9970/2.0000/2.0060
Support levels: 1.9900/1.9870/1.9820

GBP/USD has risen to 1.9970 level after London Opening earlier today. Further upmove to 2.00 important Resistance is possible later today on soft US Chicago PMI Index in few minutes. In longer term a rise beyond 2.0050-60 crucial Resistance region is needed for resuming the uptrend towards 2.0133 high and even higher. On the other side, stronger than expected data from USA may turn price back towards 1.9890 daily low and even 1.9870-65 bottom area in mid term. Look to buy on pullback towards 1.9870 for test of 2.000 and 2.0050.

Strategy-neutral.

FXDREAM USD/JPY
Date: Mon, 30 April 2007 13:10:03
Resistance levels: 119.75/119.85/120.35
Support levels: 119.30/118.90/118.50

USD/JPY has retested 119.75-77 first Resistance and Friday high earlier today. The uptrend remains intact for retest of 119.85 previous high and even towards 120.40 . First minor Resistance comes around 119.77 Friday high. On the other side, soft data from USA may turn price down to 119.20 in near term. The key Support is at 118.88 Friday bottom. Look to buy on pullback towards 118.88 for test of 119.85 and higher..

Strategy-neutral.

FXDREAM USD/CHF
Date: Mon, 30 April 2007 13:10:02
Resistance levels: 1.2100/1.2130/1.2150
Support levels: 1.2050/1.2000/1.1980

USD/CHF has failed to break below 1.2000 important level and bottom on Friday rebounding back towards 1.2100 first Resistance in the last trading sessions. Further squeeze higher towards 1.2130-50 area is possible later today as long as price is above 1.2050 first Support. On downside, below 1.2050 may resume the downtrend towrads 1.2010-00 area later today on soft US Chicago PMI data..

Strategy-neutral.

FXDREAM EUR/JPY
Date: Mon, 30 April 2007 13:10:01
Resistance levels: 163.05/163.25/163.50
Support levels: 162.40/161.70/161.00

The Cross has reached new record beyond 163.00 at 163.24 on Friday Price has turn back towards 162.40-30 Support area earlier today on closed markets in China and Japan.. As long as price is above 162.40-30first Support area further upmove towards 163.25 and 163.50 may be seen over today and tomorrow..On the other side, below 162.40 is needed for retest of 161.70-65 bottom area.

Strategy-neutral.