Daily Majors Forecast 29.01

EUR/USD - Tue, 29 January 2008 13:10:05
Resistance levels: 1.4800/1.4860/1.4920
Support levels: 1.4750/1.4700/1.4650
EUR/USD has traded ranged above 1.4740 first Support earlier today Today focus will be on US Core Durable Goods numbers at 13:30 GMT and Consumer Confidence at 15:00 GMT . The consensus is at 0.0%. The break beyond 1.4780 signals further upmove towards 1.4860 over the next trading sessions if the number comes out at -2.0% or more negative and 1.4920 in mid term. First immediate Resistance comes around 1.4800 On downside, first Support comes around 1.4750 Below turns price back to 1.4700 later today if the number comes out at 2.0% or higher .and even 1.4660-50 key Support area in longer term Look to buy on pullback for test higher towards 1.4860 and 1.4920 in longer term.

GBP/USD - Tue, 29 January 2008 13:10:04
Resistance levels: 1.9900/2.0020/2.0150
Support levels: 1.9850/1.9800/1.9730
GBP/USD has risen beyond 1.9900 Resistance over the last trading sessions as it was suggested The break above 1.9790 previous important levels has recovered price beyond 1.9900 later today and opens territory for test of the longer term target at 2.0020 On downside, below 1.9730 Support eases price back to 1.9600 bottom in mid term First immediate Support comes near 1.9850 ahead of 1.9800 stronger one.

USD/JPY - Tue, 29 January 2008 13:10:03
Resistance levels: 107.20/107.90/108.50
Support levels: 106.00/105.00/104.20
USD/JPY has retested 117.20 Asia highs earlier today No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in longer term as long as price remains below 107.90 key level First Support comes at 106.50 ahead 106.00 stronger one On the upside, a break above 107.90 again signals for reversal in the bias and test of 108.50 and 110.10 in longer term First Resistance comes at 107.20 previous highs Above that levels squeezes price again towards 107.90 key level later today.

USD/CHF - Tue, 29 January 2008 13:10:02
Resistance levels: 1.0950/1.1000/1.1060
Support levels: 1.0900/1.0850/1.0830
USD/CHF has reversed above 1.0930 first minor Resistance earlier today Unfortunately. our Short position has been stopped at 1.0925 with small 15 pip loss No change in our view On downside, the break below 1.0950 unlocks territory for further downmove towards 1.0850 and even 1.0830 bottom in longer term. First Support comes at 1.0900 again On the upside, a break above 1.1000 Resistance again is needed for test towards 1.1100-10 area in longer term First immediate Resistance comes near 1.0930 Beyond squeezes price to 1.0970-80 region later today.

EUR/JPY - Tue, 29 January 2008 13:10:01
Resistance levels: 158.50/159.10/160.00
Support levels: 157.00/155.50/154.80
The Cross has found Support at 157.00 earlier today No change in our view . Beyond 159.10 is needed now for recovery price to 160.00 and 161.00 in longer term First Resistance comes at 158.50 Asia highs now On downside, first important Support comes around 157.00 Below turns price back to 155.50 daily bottom over today and tomorrow.

FXDream