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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated August 9, 2006, 7:25 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 9 August 2006 13:10:01
Resistance levels: 1.2910/1.2980/1.3000
Support levels: 1.2840/1.2805/1.2760
EUR/USD has risen for retest of 1.2900-07 Friday high area earlier today. The sentiment remains bullish for test of 1.2980 record year high in the upcoming days till the end of the week. On downside, if the 1.2900-10 Resistance holds retreat down to 1.2840 first minor Support is not ruled out later today. The key Support lies in the 1.2770-60 region. Look to buy on dips or a break above 1.2910 for test of 1.2980.

Strategy-neutral.

FXDREAM GBP/USD

Date: Wed, 9 August 2006 13:10:01
Resistance levels: 1.9115/1.9145/1.9225
Support levels: 1.9050/1.9000/1.8970

GBP/USD has risen to 1.9112-15 area earlier today, limited by less hawkish than expected Bank of England Inflationary Report at 09:30 GMT. As long as price is above 1.8860 in longer term, the sentiment remains positive for test of 1.9225 later this week Later today further upmove towards 1.9142-45 area at least is likely to be seen. First immediate Resistance is at 1.9115. On downside, a break below 1.9050 may turn price back towards 1.8970 Asia lows.

Strategy-neutral.

FXDREAM USD/JPY

Date: Wed, 9 August 2006 13:10:01
Resistance levels: 115.35/115.75/116.05
Support levels: 114.80/114.55/114.00

USD/JPY has dropped down to 114.80 earlier today. Range trade between 114.55 yesterday lows and 115.75 Asia highs is likely to be seen today. In longer term, 113.40 previous low target remains intact as long as price is below 116.05. On the upside, a break above 115.75 may open territory for further upmove towards 116.40. Look to sell on a break below 114.80 for retest of 114.00-113.90 and lower towards 113.40 in longer term.

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