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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 29, 2006, 7:33 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 29 August 2006 13:10:01
Resistance levels: 1.2845/1.2885/1.2940
Support levels: 1.2800/1.2750/1.2725
EUR/USD has remained ranged between 1.2800 first minor Support and 1.2840-45 first Resistance area ahead of US Data Release as it was suggested. Now markets are waiting for US Consumer Confidence at 14:00 GMT and FOMC Minutes 4 hours later. US Consumer Confidence is likely to give signifficant impact on markets as level about 100 may bounce the EUR/USD for test of 1.2880-85 area later today. On the other side, levels about 106.00 is likely to turn price back in the 1.2750-25 bottom region.

Buy EUR/USD at 1.2830,Stop-loss-1.2800,Take profit-1.2880(1.2930)

FXDREAM GBP/USD

Date: Tue, 29 August 2006 13:10:01
Resistance levels: 1.9025/1.9070/1.9140
Support levels: 1.8920/1.8880/1.8830

GBP/USD has risen for retest of 1.9025 previous spike earlier today as it was suggested in our previous report. Now markets are focused on US Consumer Confidence Release. Disappointing levels may boost price for test of 1.9070 later today and 1.9142 highs in the next couples of days. On the other side, a break below 1.8968 local minimum is likely to send price lower towards 1.8920 and 1.8880 later today. We have released 80 pip profit for the first half of the Long position and 120 pip profit for the second one yesterday. Now we prefer to stay aside.

Strategy-neutral.

FXDREAM USD/JPY

Date: Tue, 29 August 2006 13:10:01
Resistance levels: 117.25/117.40/117.85
Support levels: 116.70/116.10/115.80

USD/JPY is trading around 116.70-60 Support area ahead of US Data Release later today. Then further downmove towards 116.25-10 region is with equal chances with another test of 117.40 previous high. In longer term, the uptrend remains intact for retest of 117.85-88 area. Stay cautous Long for retest of 117.40 later today.

Holding USD/JPY Long at 116.70,Stop-loss-116.35,Take profit-117.35(117.80)

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