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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 23, 2006, 7:40 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 23 August 2006 13:10:01
Resistance levels: 1.2850/1.2905/1.2940
Support levels: 1.2780/1.2720/1.2695
EUR/USD has remained in narrow ranges below 1.2850 ahead of US Data Release later today. Markets are focused on US Existing Home Sales Figures at 14:00 GMT. Poor data from USA may push price higher towards 1.2900-05 later today. On the other side, better than expected figures may cause sharp drop towards 1.2750 and 1.2715 in the next trading sessions. After last two slowing Home Sales months, there is significant chance of keeping the slowdown. First crucial Support lies at 1.2780.

Buy EUR/USD at 1.2820 ,Stop-loss-1.2785,Take profit-1.2885(1.2930)

FXDREAM GBP/USD

Date: Wed, 23 August 2006 13:10:01
Resistance levels: 1.8950/1.9000/1.9025
Support levels: 1.8850/1.8815/1.8770

GBP/USD has tested 1.8950 Resistance ahead of US Home Sales key Figures later today at 14:00 GMT. The pair is trading in the 1.8850-1.9025 range. Weaker than expected data from USA may send price towards the upper limit of the range towards 1.9000-25 area later today. Ojn the other side, turning back to 1.8850 Support also is likely to be seen on stronger US Home Sales later today and lower towards 1.8815-00 area in the next trading sessions.

Strategy-neutral.

FXDREAM USD/JPY

Date: Wed, 23 August 2006 13:10:01
Resistance levels: 116.45/116.85/117.15
Support levels: 116.10/115.80/115.40

USD/JPY has eased below 116.10 earlier today. Now markets are focused on US Data Release at 14:00 GMT. The next direction will depend on US Home Sales Figures. Stronger than expected Figures may turn price up to 116.85 yesterday highs at the current trading session and 117.40 in mid-term. On the other side, weak data from USA is likely to push price lower towards 115.45. First crucial Support lies around 115.80.

Strategy-neutral.

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