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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 30, 2006, 6:27 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 30 August 2006 13:10:02
Resistance levels: 1.2855/1.2885/1.2940
Support levels: 1.2800/1.2750/1.2725
EUR/USD has remained flat in the last few hours as markets are waiting for US Data Releases in few minutes. The focus will be on US GDP figures. A fugures down below 2.5 % is likely to boost EUR/USD for test of 1.2885 first strong Resistance and setting direction towards 1.2940 previous high in the next couple of days. On the other side, figures above 3.0 % is may shift price back towards 1.2750 yesterday low. Stay Long for retest of 1.2880 and higher after US GDP Release. Take in count ADP Emplyment Report 15 minutes earlier too.

Holding EUR/USD Long at 1.2830,Stop-loss-1.2800,Take profit-1.2880( 1.2935)

FXDREAM GBP/USD

Date: Wed, 30 August 2006 13:10:02
Resistance levels: 1.9045/1.9075/1.9140
Support levels: 1.8970/1.8900/1.8830

GBP/USD has spiked up to 1.9045 earlier today supported by positive fundamental data from UK. The bias remains positive as long as price is above 1.8970 local minimum now for test of 1.9070-75 area at least on negative US GDP Data and 1.9140 retest in the next couple of days. On the other side, a break below 1.8970 may shift price lower towards 1.9000 yesterdays low. We prefer to stay aside as we have already Long EUR/USD position..

Strategy-neutral.

FXDREAM USD/JPY

Date: Wed, 30 August 2006 13:10:02
Resistance levels: 117.25/117.40/117.85
Support levels: 116.75/116.50/116.10

USD/JPY has climbed further after London Opening up to 117.16. The next direction will depends on US GDP Figures later today. The uptrend is likely to remain intact for retest of 117.40 previous high and higher towards 117.85-88 in the next couple of days on strong US Data. On the other side, shift in the direction down towards 116.15-10 may be seen. First Support comes at 116.75 now.

Holding USD/JPY Long at 116.70,Stop-loss-116.75( up from 116.35),Take profit-117.35

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