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Daily Forex Forecast

Thu, Nov 29 2007, 13:14 GMT
by FXDream Team

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• DAILY FX FORECASTS

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• 
  FXDREAM EUR/USD
  Date: Thu, 29 November 2007 13:10:05
  Resistance levels: 1.4800/1.4850/1.4900/1.4965
  Support levels: 1.4710/1.4680/14660
  EUR/USD has fallen back towards 1.4710 first Support earlier today after breakout below 1.4780 first Suport Today focus will be on US GDP Numbers at 13:30 GMT and New Home Sales at 15:00 GMT The US GDP consensus is at 4.9%. No change in our view. The uptrend remains intact for retest of 1.4900-10 highs and even 1.4965 record highs in mid term Reversal towards first Resistance around 1.4800 and even 1.4850 yesterday highs may be seen in short term on soft data from USA On the other side, stronger than expected data from USA may ease price below first important Support at 1.4710 ahead of 1.4675 key one .
• Strategy-neutral.
• FXDREAM GBP/USD
  Date: Thu, 29 November 2007 13:10:04
  Resistance levels: 2.0700/2.0750/2.0840
  Support levels: 2.0600/2.0520/2.0450
  GBP/USD has fallen back below 2.0600 Support earlier today after weak UK National Housing Prices Below reverses the uptrend towards 2.0550-20 bottom area later today and even 2.0450 in mid term on better than expected data from USA . First immediate Support comes around 2.0600. On the upside, a break above 2.0700 again is needed for resuming the uptrend towards 2.0840 and 2.0880 up targets.
• Sell GBP/USD at 2.0600,Stop-loss-2.0640,Take profit-2.0540(2.0480)
• FXDREAM USD/JPY
  Date: Thu, 29 November 2007 13:10:03
  Resistance levels: 110.40/110.70/111.00
  Support levels: 109.50/109.00/108.40
  USD/JPY has hold above 109.50 first Support over the last tarding sessions We have booked 60 pip profit over the first part and 120 pips over the rest 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 later today. On downside, first minor Support comes around 109.50 ahead of 109.00 key one. Soft data from USA may turn price back towards 109.10 later today
• 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: Thu, 29 November 2007 13:10:02
  Resistance levels: 1.1200/1.1230//1.1300
  Support levels: 1.1100/1.1070/1.1020/1.0960
  USD/CHF has risen towards 1.1200-30 Resistance area earlier today as it was suggested . The uptrend has been resumed towards 1.1200-30 first Resistance area and even 1.1300 later today on stronger than expected US fundamental data. On downside, first minor Support comes at 1.1100 ahead of 1.1070 key one. Look to buy on downsticks for test towards 1.1230 and 1.1300 later today on stronger than expected data from USA..
• Strategy-neutral.
• 
  FXDREAM EUR/JPY
  Date: Thu, 29 November 2007 13:10:01
  Resistance levels: 163.00/163.60//164.30
  Support levels: 162.00/161.00/160.00
  The Cross has eased back below 162.00 important Support over the last trading sessions.. The up target remains at 164.30 in mid and longer term First Resistance comes at 163.00 ahead of 163.60 highs . On downside, first important Support comes around 162.00 Below turns price back to 161.00 key one later today and even towards 160.00 and 159.60 in mid term
• Strategy-neutral.

Published on  Thu, Nov 29 2007, 13:16 GMT

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