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Daily Forex Forecast

Wed, Nov 28 2007, 14:45 GMT
by FXDream Team

FXDream  |  View company's profile


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  • DAILY FX FORECASTS

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  • FXDREAM EUR/USD
    Date: Wed, 28 November 2007 13:10:05
    Resistance levels: 1.4800/1.4850/1.4900
    Support levels: 1.4710/1.4660/1.4620
    EUR/USD has eased further towards 1.4710 Support and target earlier today Today focus will be on US Existing Home Sales at 15:00 GMT The consensus is at 5.00 mln No change in our view. The uptrend remains intact for retest of 1.4900-10 record highs and even 1.4965 record highs in longer term term First Resistance comes at 1.4800 On the other side, the break below .4775 important Support turns price back to 1.4710 and even 1.4660 in mid term.
  • Strategy-neutral.
  • FXDREAM GBP/USD
    Date: Wed, 28 November 2007 13:10:04
    Resistance levels: 2.0730/2.0800/2.0840
    Support levels: 2.0640/2.0600/2.0520
    GBP/USD has found Support near 2.0600 Support earlier today On the upside, the target remains at 2.0840 in longer term . First immediate Resistance comes around 2.0730. Above resumes the uptrend towards 2.0840 target On the other side, first Support comes at 2.0640 ahead of 2.0550-20 bottom area.We prefer to stay aside for now as range trade may be seen later today.
  • Strategy-neutral.
  • FXDREAM USD/JPY
    Date: Wed, 28 November 2007 13:10:03
    Resistance levels: 110.00/110.70/111.00
    Support levels: 109.50/109.00/108.40
    USD/JPY has recovered further beyond 110.00 ( just a shy away from our second target at 110.20) earlier today as it was suggested We have booked 60 pip profit over the first part of our Long position. No change in our view. As long as price holds above 109.00 key Support further recovery towards 110.60-70 area may be seen over the nexr trading sessions. On downside, first minor Support comes around 109.50 ahead of 109.00 key one.
  • Holding USD/JPY Long at 109.00,Stop-loss-109.10( up from 108.60) ,Take profit-109.60( 110.20)
  • FXDREAM USD/CHF
    Date: Wed, 28 November 2007 13:10:02
    Resistance levels: 1.1200/1.1230/1.1300
    Support levels: 1.1120/1.1070/1.1020/1.0960
    USD/CHF has broken above 1.1070 Resistance towards 1.1140 and 1.1200 our next targets earlier today as it was suggested in our previous reports . Now the pair meets strong Resistance in the 1.1200-30 area. Above signals further upmove towards 1.1300. On the other side, first Support comes around 1.1120 ahead of 1.1070 stronger one.
  • Strategy-neutral.
  • FXDREAM EUR/JPY
    Date: Wed, 28 November 2007 13:10:01
    Resistance levels: 162.70/163.30/164.30
    Support levels: 161.70/161.00/160.00
    The Cross has risen strongly beyond 162.00 our target earlier today as it was suggested in our previous report.. In short term further upmove towards 162.70 and even 163.30 may be seen Above 163.30 signals further recovery towards 164.30 at least in mid term. On downside, first minor Support comes at 161.70 ahead of 161.00 key one. Below resumes the downtrend towards 160.00 and 159.60.
  • Strategy-neutral.


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These forecasts are based on our reading of the market at the time of writing.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy.Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur. Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.The high degree of leverage can work against you as well as for you.The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
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