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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated December 20, 2006, 7:38 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 20 December 2006 13:10:01
Resistance levels: 1.3250/1.3275/1.3320
Support levels: 1.3190/1.3160/1.3120
EUR/USD has risen further towards 1.3250 before London Opening easing back to 1.3190 in the last trading session. The bias remains positive in short term for test of 1.3270-75 area in the next couple of days. On the other side, a break below 1.3200 may cause pullback down to 1.3160-50 Support region in near term. Look to buy on pullback below 1.3200 for test of 1.3270-75 region over today and tomorrow.

Strategy-neutral.

FXDREAM GBP/USD

Date: Wed, 20 December 2006 13:10:01
Resistance levels: 1.9750//1.9800/1.9850
Support levels: 1.9650/1.9610/1.9560

GBP/USD has risen further to 1.9750 earlier today. We have booked 70 pips profit for the first half of our Long entered at 1.9630 and 100 pips over the rest of the position at 1.9730. Price has remained flat after Bank of England Minutes earlier today. Further rally towards 1.9800 and 1.9848 top may be seen in short term over today and tomorrow.. On downside, first important Support comes at 1.9650 ahead of 1.9610-00 stronger one area. Look to buy again a break above 1.9730 Resistance for test of 1.9800 and 1.9848 previous top and only below 1.9700-9695 area may cause pullback towards 1.9650 later today.

Buy GBP/USD at 1.9730,Stop-loss-1.9695,Take profit-1.9800(1.9840)

FXDREAM USD/JPY

Date: Wed, 20 December 2006 13:10:01
Resistance levels: 118.30/118.53/118.70
Support levels: 117.70/117.40/116.70

USD/JPY still trading ranged below 118.30 Friday top . The uptrend remains intact for test of 118.50-53 area at least and higher towards 118.70. On downside, first Support comes at 117.69 yesterday bottom ahead of 117.40 key Support. Stay aside for now in near term

Strategy-neutral.



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