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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated December 5, 2006, 9:57 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 5 December 2006 13:10:01
Resistance levels: 1.3340/1.3370/1.3480
Support levels: 1.3270/1.3220/1.3175
EUR/USD has remained strong above 1.3280-70 Support area after positive PMI Srervices data from Eurozone earlier today..The bias remains bullish for retest of 1.3370 in near term and 1.3480 in longer term. First Support now comes at 1.3280-70 area ahead of 1.3220 stronger one Focus today will be on ISM Non-Manifacturing Index from USA later at 15:00 GMT.If it comes out at 58 or higher it may turn price back towards 1.3283 low later today. On the other side, If it comes out at 52 or lower we may see retest of 1.3370 Resistance and even higher towards 1.3400. Look to buy a break above 1.3340-45 Resistance on weak data from USA for test of 1.3480 target or buy dips towards 1.3220 for retest of 1.3370 high.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 5 December 2006 13:10:01
Resistance levels: 1.9800/1.9850/1.9900
Support levels: 1.9700/1.9650/1.9580

GBP/USD still ranged between 1.9727 daily bottom and 1.9800 first minor Resistance . Now the sentiment remains positive for further rally towards 1.9848 yesterday high and 1.9900 and even test of 2.00 in longer term .First important Resistance comes at 1.9848 top. On downside, a break below 1.9727 low may turn price back lower towards 1.9650-40 area. Look to buy on pullback towards 1.9650 for retest of 1.9848 and 1.9900 or buy for test of 1.9848 on disappointing data from USA later today.

Strategy-neutral.

FXDREAM USD/JPY

Date: Tue, 5 December 2006 13:10:01
Resistance levels: 115.00/115.40/115.85
Support levels: 114.40/114.00

USD/JPY has fallen further down to 114.43 in the last two trading sessions on rumours about another interest hike from Japan. The bias remains bearish for test of 114.00 area in short term and even lower in mid term On the upside, first crucial Resistance now comes at 115.00 previous Support ahead of 115.40 stronger one. Trade from short side for test of 114.00 as long as price is below 115.00 or look to sell on rebound beyond 115.00 for retest of 114.43 and 114.00.

Strategy-neutral.

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