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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 15, 2006, 6:27 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 15 August 2006 13:10:01
Resistance levels: 1.2760/1.2800/1.2840
Support levels: 1.2695/1.2660/1.2610
EUR/USD has spiked down to 1.2695 in the early Asia trade. Part of our Short position has been closed at 1.2700 for small 50 pip profit. Market has remained in narrow range ahead of US Data Release as it was suggested. Today the focus will be on US Producer Price Index at 12;30 GMT and TICS Figures at 13:00 GMT. A break below 1.2700 area may take price lower towards 1.2660 key Support and even further to 1.2635 later today. On the other side, a break above 1.2760 first important Resistance is needed for reversal towards 1.2800 and 1.2842 later today. Stay Short for test of 1.2660 , trailing stop-loss order lower to 1.2755 Asia highs.

Holding EUR/USD Short at 1.2750,Stop-loss-1.2760(down from 1.2785),Take profit-1.2700(1.2660)

FXDREAM GBP/USD

Date: Tue, 15 August 2006 13:10:01
Resistance levels: 1.8935/1.8990/1.9050
Support levels: 1.8840/1.8770/1.8720

GBP/USD has fallen down towards 1.8840 down range limit as UK CPI dips in July. Further downmove towards 1.8780-70 key Support area is likely to be seen later today on positive data from USA at 12:30 and 13:00 GMT. On the other side, a break above 1.8935 first immediate Resistance is likely to send price higher to 1.8990-1.9000 crucial Resistance later today.

Strategy-neutral.)

FXDREAM USD/JPY

Date: Tue, 15 August 2006 13:10:01
Resistance levels: 116.70/117.15/117.45
Support levels: 116.20/115.90/115.60

USD/JPY has eased down to 116.20-15 immedaite Support area earlier today as it was suggested ahead of US Data Release. As long as price is above 115.90 key Support the uptrend remains intact for the pair with next target at 117.15. On downside, drop down towards 115.60 also is not ruled out later today. Look to buy downsticks for test of 117.15 after US Data Release later today.

Strategy-neutral.



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