Majors Daily Forecast 7 May 2012

Trading range: 1.2960 - 1.3060

Trend: Upward

Buy at 1.2973 SL 1.2941 TP 1.3050

USD/JPY

Trading range: 79.60 - 80.55

Trend: Upward

Buy at 79.72 SL 79.40 TP 80.44

GBP/USD

Trading range: 1.6100 - 1.6215

Trend: Upward

Buy at 1.6114 SL 1.6082 TP 1.6202

USD/CHF

Trading range: 0.9270 - 0.9165

Trend: Downward

Sell at 0.9257 SL 0.9289 TP 0.9173

Today's Economic Calendar:

Time GMT, Country, Indicator, Forecast, Prior

UK May Bank Holiday

10:00 Germany Manufacturing orders March seasonally adjusted 0.5% 0.3%

10:00 Germany Manufacturing orders March not seasonally adjusted, workday adjusted Y/Y -2.8% -6.0%

19:00 USA Consumer credit March, bln +10.0 +8.7

*Please note that the daily forecast is sent on time to subscribers only, who receive also updates, evening forecast, news and real time trading signals, from which we have made today so far +47, total on Friday +84 pips, as shown at our web site.