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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 24, 2006, 6:37 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 24 August 2006 13:10:01
Resistance levels: 1.2850/1.2905/1.2940
Support levels: 1.2750/1.2720/1.2695
EUR/USD has risen up towards 1.2845-50 first Resistance as IFO Business Climate came positive above 100.00 earlier today. Now markets are focused on US Durable Goods, Initial Jobless Claims at 12:30 GMT and New Home Sales at 14:00 GMT. Signs for slowing US Economy is likely to boost price towards 1.2900-05 later today and retest of 1.2939 previous highs till the end of thw week. On the other side, mixed or positive data from USA may turn price back to 1.2750 later today.

Buy EUR/USD at 1.2850,Stop-loss-1.2820,Take profit-1.2895(1.2935)

FXDREAM GBP/USD

Date: Thu, 24 August 2006 13:10:01
Resistance levels: 1.8950/1.9000/1.9025
Support levels: 1.8850/1.8815/1.8770

GBP/USD has risen to 1.8950 first immediate Resistance following EUR strength earlier today. Range between 1.9000-25 and 1.8850 is likely to remain one more day. The next direction will depends on US Data Release in few minutes. A rally towards 1.9000-25 area has equal chances with turning back down to 1.8850 Support, opening territory for further downmove down to 1.8815 tomorrow. Look to buy on dips towards 1.8815 with stop-loss order below 1.8775 or a break above 1.8950 for test of 1.9025 and 1.9055.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 24 August 2006 13:10:01
Resistance levels: 116.85/117.15/117.40
Support levels: 116.10/115.80/115.40

USD/JPY has remained ranged in the 116.10-116.65 range in the last four trading sessions. The bias remains positive as long as price is above 116.10-08 Support area for further rally towards 117.15 and 117.40 till the end of the week. On downside, a break below 116.10 is needed as a signal for further downmove towards 115.40. Look to buy dips for test of 117.15 and 117.40 till the end of the week.

Strategy-neutral.



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