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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 31, 2006, 6:40 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 31 August 2006 13:10:01
Resistance levels: 1.2885/1.2940/1.2980
Support levels: 1.2815/1.2770/1.2725
EUR/USD has risen up to 1.2863 after London Opening earlier today as it was suggested. The bias remains positive for test of 1.2885 first crucial Resistance later today after US Personal Income and Spendings Data at 12:30 GMT and higher for retest of 1.2940 previous high till the end of the week. On downside, first Support comes around 1.2815. ahead of 1.2750 bottom and previous low. Stay Long for test of 1.2885 and higher today.

Holding EUR/USD Long at 1.2830,Stop-loss-1.2810(up from 1.2800),Take profit-1.2880( 1.2935)

FXDREAM GBP/USD

Date: Thu, 31 August 2006 13:10:01
Resistance levels: 1.9090/1.9145/1.9180
Support levels: 1.9020/1.8970/1.8900

GBP/USD has climbed up to 1.9086 earlier today as it was suggested despite disappointing GfK UK Consumer Confidence after test of 1.9020 first immediate Support in Asia. As long as price is above 1.8970 local minimum the bias remains bullish for retest of 1.9140-45 previous highs in the upcoming trading sessions. First immediate Support lies at 1.8920 ahead of 1.8970 crucial one. On the other side, a break below 1.8970 may shift price lower towards 1.8900. Look to buy dips for retest of 1.9140 in the next couples of days. We will stay aside for now as we have already Long EUR/USD position.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 31 August 2006 13:10:01
Resistance levels: 117.50/117.85
Support levels: 117.00/116.75/116.50

USD/JPY has risen up for retest beyond 117.41 previous high in Asia after weak fundamental data from Japan. Our Long position has been closed at 117.35 with 65 pip profit. The uptrend remains intact for further rally towards 117.85-88 previous high area as long as price is above 117.00-116.95 first Support region ahead of US Non Farm Payrolls key data on Friday. On downside, a break below 117.00 may shift price towards 116.50 weekly low.

Strategy-neutral.

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