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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 28, 2006, 6:47 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 28 August 2006 13:10:01
Resistance levels: 1.2817/1.2850/1.2905
Support levels: 1.2750/1.2725/1.2695
EUR/USD has risen up to 1.2817 in the early European session as markets in UK are closed today for Bank Holiday. Today no important news are expected. Range trade between 1.2750 and 1.2835 is likely to be seen today. In longer term, with US GDP on Wednesday and US Non Farm Payrolls on Friday big volatility may be expected later this week. Today, however, price is likely to stay below 1.2850 crucial Resistance. Stand aside for now.

Strategy-neutral

FXDREAM GBP/USD

Date: Mon, 28 August 2006 13:10:01
Resistance levels: 1.8970/1.9000/1.9055
Support levels: 1.8920/1.8880/1.8830

GBP/USD has risen further to 1.8961( just a shy away from our second target at 1.8970-75 area) earlier today as it was suggested. Part of our Long position has been closed at 1.8930 with 80 pip profit earlier today.Today market in London is closed for a Bank Holiday.In short term, a break above 1.8970 may squeeze price higher towards 1.8995-9000 area later today. On downside, first Support comes at 1.8920. A break below riska pullback down to 1.8850. Stay Long with the second part of the position for test of 1.8970-75 area later today, trailing stop-loss higher at 1.8920 first Support.

Holding GBP/USD Long at 1.8850,Stop-loss-1.8920( up from 1.8820),Take profit-1.8930(1.8970)

FXDREAM USD/JPY

Date: Mon, 28 August 2006 13:10:01
Resistance levels: 117.40/117.85
Support levels: 116.75/116.10/115.80

USD/JPY has eased down to 116.85 earlier today as it was suggested. In longer term, the bias remains positive for further rally towards 117.80-85 region. In short term, however, further pullback down towards 116.85-70 region is likely to be seen later today. Look to buy on pullback towards 116.70 for retest of 117.40 and higher towards 117.80 later this week.

Buy USD/JPY at 116.70,Stop-loss-116.30,Take profit-117.35(117.80)



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