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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated December 11, 2006, 7:35 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 11 December 2006 13:10:01
Resistance levels: 1.3230//1.3260/1.3320
Support levels: 1.3170/1.3130/1.3085
EUR/USD has failed to rebound above 1.3225-30 Resistance area earlier today, falling back below 1.3200 after London Opening. As long as price is below 1.3225-30 area the bias remains bearish for retest of 1.3130-27 bottom area in short term . On the upside , a break above 1.3230 is needed for rebound towards 1.3280-3300 region. Markets are waiting for FOMC Policy Announcement tomorrow.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 11 December 2006 13:10:01
Resistance levels: 1.9570/1.9610/1.9670
Support levels: 1.9465/1.9400

GBP/USD has risen sharply to 1.9735 and then flopped back below 1.9500 after mixed data from USA on Friday. Our first target has been reached at 1.9715 after the event for 95 pips profit. GBP/USD has rebounded to 1.9570 earlier today , dropping again below 1.9500 after London Opening. First important Resistance now comes in the 1.9550-70 region. As long as price is below 1.9550-70 area another test of 1.9465 bottom is likely to be seen later today and even 1.9400 over today and tomorrow. On the upside, a break beyond 1.9570 is needed for reversal towards 1.9715-35 area.

Strategy-neutral.

FXDREAM USD/JPY

Date: Mon, 11 December 2006 13:10:01
Resistance levels: 117.20/117.50/117.90
Support levels: 116.50/115.85/115.40

USD/JPY has risen further towards 117.20 minor Resistance after London Opening. The uptrend remains intact now for further rally towards 117.50 in near term and even higher to 118.50 in longer term. On downside, first trend Support comes at 116.50 area ahead of 115.85 stronger one. Look to buy on pullback towards 116.50 for retest of 117.17 high and 117.50 target.

Strategy-neutral.



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