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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 17, 2006, 6:49 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 17 August 2006 13:10:01
Resistance levels: 1.2890/1.2913/1.2980
Support levels: 1.2835/1.2800/1.2760
EUR/USD has risen to 1.2890 first suggested target earlier today after slowing EU Inflation Released at 09:00 GMT. Lack of key important news from USA, except Leading Indicators at 14:00 GMT may keep the uptrend for further upmove towards 1.2910-13 previous high area and even higher. On downside, first immediate Support comes at 1.2835 ahead of 1.2805-00 key one area.

Strategy-neutral.

FXDREAM GBP/USD

Date: Thu, 17 August 2006 13:10:01
Resistance levels: 1.9025/1.9055/1.9112
Support levels: 1.8940/1.8880/1.8840

GBP/USD has surged beyond 1.9000 earlier today, easing back towards 1.8950 later after weaker than expected UK Retail Sales Numbers. As long as price is above 1.8900-8880 Support area and yesterdays lows there are still chances of a rise towards 1.9025 and even 1.9055 later today. On downside, key Support lies at 1.8840. Our first target has been reached yesterday for small 55 pip profit. Stay Long trailing stop-loss higher to entry price for retest of 1.9025 and higher later today

Holding GBP/USD Long at 1.8935,Stop-loss-1.8935(up from 1.8900),Take profit-1.8990(1.9050)

FXDREAM USD/JPY

Date: Thu, 17 August 2006 13:10:01
Resistance levels: 115.65/116.00/116.37
Support levels: 115.10/114.65/114.20

USD/JPY has dipped further towards 115.15 as it was suggested earlier today. The sentiment remains bearish with further downmove towards 114.70-65 key Support area and previous lows possible later today. There is immediate Support in the 115.12-10 region. On the upside, first Resistance comes around 115.65 ahead of 116.00 Asia highs. Look to sell upsticks for test of 115.12-10 area and then 114.70 later today.

Strategy-neutral.



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