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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 21, 2006, 6:45 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 21 August 2006 13:10:01
Resistance levels: 1.2887/1.2913/1.2970
Support levels: 1.2880/1.2845/1.2770
EUR/USD has risen for retest of 1.2913 previous highs earlier today as it was suggested. Lack of fundamental data from USA may keep the uptrend intact for test of 1.2970-80 record high area in the upcoming trading session today and tomorrow. On downside, first immediate Support lies at 1.2880 ahead of 1.2845. Trade from Long side for test of 1.2970-80 area, with stop-loss around 1.2880 Support.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 21 August 2006 13:10:01
Resistance levels: 1.8900/1.9025/1.9055
Support levels: 1.8880/1.8820/1.8770

GBP/USD has surged beyond our first target at 1.8950 after London Opening earlier today. We have released 70 pip profit for the half of our Long position. The bias remains positive for test of 1.9000-25 Resistance area in near term. On the other side, first immediate Support comes around 1.8890-80 area ahead of 1.8770 key range one. Stay Long for test of 1.9000-25 area, trailing stop-loss order higher at 1.8890.

Holding GBP/USD Long at 1.8880,Stop-loss-1.8890(up from 1.8840),Take profit-1.8950(1.9000)

FXDREAM USD/JPY

Date: Mon, 21 August 2006 13:10:01
Resistance levels: 116.18/116.37/116.75
Support levels: 115.40/115.10/114.65

USD/JPY has remained ranged during the morning European trade. The seintiment remains negative as long as price is below 116.18 first immediate Support with risk of further downmove towards 115.10 in short term. The key Support lies at 114.65 previous low. On the upside, a break above 116.18 is needed as confirmation for further rally towards 116.75 previous high and higher towards 117.15.

Strategy-neutral.



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