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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 18, 2006, 7:00 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 18 August 2006 13:10:01
Resistance levels: 1.2845/1.2890/1.2913
Support levels: 1.2795/1.2765/1.2700
EUR/USD has fallen down below 1.2813 Asia lows during the morning European trade. The bias has been reversed into bearish for further downmove towards 1.2760 and even lower later today and 1.2700 in mid-term. On the upside, a break above 1.2845 first immediate Resistance is needed as a sign for continuing uptrend and retest of 1.2890 and 1.2913 previous highs. USD may be supported by Michigan Sentiment later today at 13:15 GMT.

Strategy-neutral.

FXDREAM GBP/USD

Date: Fri, 18 August 2006 13:10:01
Resistance levels: 1.8820/1.8880/1.8950
Support levels: 1.8770/1.8720/1.8670

GBP/USD has dropped further towards 1.8780-70 area as it was suggested earlier today. Now price is facing strong Support in the 1.8780-70 area. A break below is likely to send price lower towards 1.8720 later today, opening territory for test of 1.8670 previous lows next week. On the other side, if the Support area holds, rebound towards 1.8870 is possible later today.

Strategy-neutral.

FXDREAM USD/JPY

Date: Fri, 18 August 2006 13:10:01
Resistance levels: 116.37/116.75/117.15
Support levels: 115.40/115.10/114.65

USD/JPY has fallen down to 115.40 earlier today hurt by China Interest hike. The pair is still in negative territory as long as price is below 116.18 and 116.37 yesterday highs. Look to buy USD/JPY on confirmation for break above 116.18 and then 116.37 for retest of 116.75 previous highs and higher towards 117.15. On the other side, if the 116.18-37 area holds, reversal back towards 115.19 and 115.12 is not ruled out.

Strategy-neutral.



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