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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 10, 2006, 6:34 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 10 August 2006 13:10:01
Resistance levels: 1.2910/1.2980/1.3000
Support levels: 1.2840/1.2805/1.2760
EUR/USD has dropped down to 1.2860 earlier today as EUR and GBP has been hurt by terrorism threat. The both currencies has been dropped sharply against USD and JPY earlier today. Now markets will be focused on US Trade Balance Numbers at 12;30 GMT. The bias remains positive for the pair as long as price is above 1.2805 and widening US Trade Deficit may give strength for test of 1.2980 year record high later today. On downside, positive data from USA may reverse the bias for retest of 1.2770-60 key Support area later today. Unfortunately, our Long has been stooped at 1.2865 earlier today with small 35 pip loss. Look to buy on a break beyond 1.2900 for test of 1.2980 after US Data Release.

Buy EUR/USD at 1.2885,Stop-loss-1.2850,Take profit-1.2960(1.3000)

FXDREAM GBP/USD

Date: Thu, 10 August 2006 13:10:01
Resistance levels: 1.9115/1.9145/1.9225
Support levels: 1.8970/1.8920/1.8855

GBP/USD has sunk down to 1.8980 after the news about terrorism threat in UK earlier today. Now markets are waiting for US Trade Deficit Numbers at 12;30 GMT. On negative data from USA the pair may recover with rally towards 1.9142 later today and upwave towards 1.9225 may be seen in the next couples of days. On the other side, positive data may turn price back towards 1.8920. Look to buy for retest of 1.9112 immediate Resistance and 1.9142 later today.Hedge with USD/CHF Long Position.

Buy GBP/USD at 1.9080,Stop-loss-1.9040,Take profit-1.9140(1.9210)

FXDREAM USD/JPY

Date: Thu, 10 August 2006 13:10:01
Resistance levels: 115.35/115.75/116.05
Support levels: 114.55/114.00/1113.40

USD/JPY has eased heavily down to 114.67 earlier today. The bias remains negative and further downmove towards 114.00-113.90 area and even 113.40 may be seen till the end of the week. On the other side, positive US Trade Deficit may turn price back towards 115.75 and even higher towards 116.00-05 later today. Look to sell a break below 114.55 for test of 113.90 and 113.40.

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