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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 25, 2006, 7:07 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 25 August 2006 13:10:01
Resistance levels: 1.2800/1.2850/1.2905
Support levels: 1.2750/1.2720/1.2695
EUR/USD has remained flat in the morning European trade as markets are waiting for Bernanke Comments later today at 14:00 GMT. Watch carefully 1.2750 Support. If it is broken, further downmove towards 1.2715-2695 bottom area is likely to be seen later today. On the other side, if it holds, rebound towards 1.2800-10 area and 1.2840 yesterday high may be seen after Bernanke Speech, keeping 1.2750-1.2850 range one more day.

Strategy-neutral

FXDREAM GBP/USD

Date: Fri, 25 August 2006 13:10:01
Resistance levels: 1.8920/1.8970/1.9000
Support levels: 1.8830/1.8800/1.8770

GBP/USD has risen to 1.8916( just a shy away from our first target) after UK GDP Release as it was suggested. The next direction will depends on Bernanke Comments later today. Further fall down to 1.8800-8775 key Support area has equal chances with rebound back towards 1.8920 and 1.8970 later today. We will stay Long for rally towads 1.8970 and higher with tight stop-loss just below 1.8830 lows.

Holding GBP/USD Long at 1.8850,Stop-loss-1.8820,Take profit-1.8930(1.8970)

FXDREAM USD/JPY

Date: Fri, 25 August 2006 13:10:01
Resistance levels: 117.40/117.85
Support levels: 116.75/116.10/115.80

USD/JPY has squeezed higher to 117.40 target earlier today as it was suggested. Price is likely to remain below 117.40 Resistance ahead of Bernanke Speech. The bias remains positive for furher rally towards 117.85-88 previous high area later today on positive Comments by Bernanke. First crucial Support comes in the 116.85-75 area. Look to buy on pullback towards 116.85 for test of 117.40 and 117.85.

Strategy-neutral.



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