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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 3, 2006, 7:04 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 3 August 2006 13:10:01
Resistance levels: 1.2805/1.2825/1.2860
Support levels: 1.2740/1.2700/1.2660
EUR/USD has risen up to 1.2805 after ECB Rate Decision earlier today at 11:45 GMT. The sentiment remains bullish for retest of 1.2825-28 previous highs area and 1.2860 later today. On downside, fist crucial Support lies in the 1.2740-20 area ahead of 1.2700 key one. ISM Non-Manifaccturing will be released later today at 14:00 GMT. Stay Long for test of 1.2860 later today.

Holding EUR/USD Long at 1.2765,Stop-loss 1.2765(up from 1.2730),Take profit-1.2825(1.2855)

FXDREAM GBP/USD

Date: Thu, 3 August 2006 13:10:01
Resistance levels: 1.9020/1.9070
Support levels: 1.8850/1.8800/1.8730

GBP/USD has surged sharply directly above our targets at 1.8850 and 1.8880 after surprising interest rate hike from Bank of England earlier today. The bias extremely bullish for the pair. with first Reistance at 1.9020 ahead of 1.9070 previous record high. On downside, first Support lies at 1.8850 ahead of 1.8800 stronger one.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 3 August 2006 13:10:01
Resistance levels: 114.90/115.30/116.00
Support levels: 114.20/113.90/113.40

USD/JPY has squeezed higher to 115.15 earlier today, but as long as price is below 115.30 the bias remains bearish for the pair. Later today retest of 114.20 key Support is likely to be seen. First immediate Support lies at 114.55. In longer term, a break below 114.20 may accelerate downmove further towards 113.40 previous lows. The next direction will depends on the key US Jobless data tomorrow.

Strategy-neutral.

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