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Daily Forex Forecast

Fri, Jan 26 2007, 13:27 GMT
by FXDream Team

FXDream

DAILY FX FORECASTS

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FXDREAM EUR/USD
Date: Fri, 26 January 2007 13:10:05
Resistance levels: 1.2940/1.2960/1.3000
Support levels: 1.2895/1.2864/1.2830

EUR/USD has fallen down towards 1.2985 first crucial Support. The bias is bearish now for further downmove towards 1.2864 bottom later today. Today focus will be on US Durable Goods Numbers at 13:30 GMT and New Home Sales at 15.00 GMT. December Durable Goods Escluded Transportation is expected come out at 0.5%. If the number comes out at 0% or negative, rebound towards 1.2938-40 area is possible later today. Onj the other side, reading of 1.0% or higher may cause retest of 1.2864 bottom and even lower to 1.2830 later today.

Strategy-neutral.

FXDREAM GBP/USD
Date: Fri, 26 January 2007 13:10:04
Resistance levels: 1.9680/1.9730/1.9770
Support levels: 1.9627/1..9590/1.9520

GBP/USD has fallen further below 1.9589 previous low earlier today as it was suggested. The bias remains bearish and further fall towards 1.9520 is possible later today. In longer term, a break below 1.1.9580 may be a sign for deeper retrace towards 1.9380. On the upside, first Resistance comes in the 1.9630-40 area aheda of 1.9677 daily high. Trade from short side for test of 1.9520 later today after strong data from USA.

Strategy-neutral.

FXDREAM USD/JPY
Date: Fri, 26 January 2007 13:10:03
Resistance levels: 121.65/121.90/122.40
Support levels: 121.20/120.75/120.15

USD/JPY has traded ranged below 121.65 immediate Resistance earlier today.In short term retest of 121.85-90 key Resistance area and previous high is possible on strong data from USA. Above may signal resuming the uptrend towards 122.40 in short term and 124.00 in longer term. On downside, first minor Support comes at 121.20 ahead of 120.80 stronger one.
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Strategy-neutral.

FXDREAM USD/CHF
Date: Fri, 26 January 2007 13:10:02
Resistance levels: 1.2570/1.2600/1.2635
Support levels: 1.2500/1.2425/1.2375

USD/CHF has rsien towards 1.2570 target earlier today as it was suggested( 1.2566 , just a shy away from our first target). Now the focus will be on US Durable Goods Numbers and US New Home Sales in few minutes. The bias remains intact for test of 1.2600 and even 1.2620 on strong readings from USA. On the other side, soft data may cause retrace back towards 1.2500 first Support after the events. Only a fall below 1.2475, however, may reverse the bias for further fall towards 1.2423 previous low and 1.2375 key range down limit. Stay Long for test of 1.2570 and higher in near term, as soon as price reaches 1.2570 , move stop-loss higher aove the entry price.

Buy USD/CHF at 1.2510,Stop-loss-1.2500( up from1.2475),Take profit-1.2570(1.2620)

FXDREAM EUR/JPY
Date: Fri, 26 January 2007 13:10:01
Resistance levels: 157.40/157.70/158.20
Support levels: 156.45/156.00/155.70

The Cross has fallen slightly towards 156.45 first minor Support in the last trading hours. The bias remains bearish and further downmove towards 156.45 and 155.73 bottom in mid term may be seen later today. On the other side, a rise beyond 157.70 is needed for resuming the uptrend towards 158.60 record high and above.First Resistance comes around 157.40 daily high.

Strategy-neutral.

Published on  Fri, Jan 26 2007, 13:26 GMT