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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 22, 2006, 7:18 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 22 August 2006 13:10:05
Resistance levels: 1.2850/1.2905/1.2940
Support levels: 1.2800/1.2770/1.2720
EUR/USD has dropped sharply to 1.2800 after very disappointing ZEW Survey from Germany earlier today. Unfortunately, our Long position has been stopped with 35 pip loss. Later today price is likely to squeeze lower down to 1.2775-70 previous lows area at least. On the upside, a break above 1.2845-50 first Resistance again may resume the uptrend towards 1.2939 previous high and 1.2970 record high in the next couples of days. Stay aside for now after risk of range trade later today.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 22 August 2006 13:10:05
Resistance levels: 1.8950/1.9000/1.9025
Support levels: 1.8850/1.8815/1.8770

GBP/USD has fallen down to 1.8880-70 area after London Opening following EUR weakness. Further downmove down to 1.8820-15 area may be seen later today as long as price is below 1.8950. The key Support remains in the 1.8780-70 previous low area. Look to buy dips towards 1.8815 with stop-loss below 1.8775 for rebound towards 1.8950 and 1.9000 in longer term.

Strategy-neutral.

FXDREAM USD/JPY

Date: Tue, 22 August 2006 13:10:05
Resistance levels: 116.75/117.15
Support levels: 115.80/115.40/115.10

USD/JPY has risen towards 116.75 previous highs after break above 116.20 previous immediate Resistance as it was suggested. The uptrend remains intact with first crucial Support at 115.80 ahead of 115.40 previous lows. The targets are at 116.75 and 117.15.

Strategy-neutral.



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