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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated December 8, 2006, 6:22 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 8 December 2006 13:10:01
Resistance levels: 1.3320/1.3370/1.3480
Support levels: 1.3250/1.3220/1.3175
EUR/USD has remained quiet before the key US Non Farm Payrolls Numbers later today at 13:30 GMT as it was suggested. The bias remains bullish for retest of 1.3370 and 1.3480 in longer term. First Support now comes at 1.3253 daily low ahead of 1.3220 stronger one Expectations are at 100K. After the ADP Employment Report that came out at 158K, a surprise on the upside rather than downside is expected. Look to sell a break below 1.3253 bottom for direct test of 1.3175 or look to buy a break above 1.3310-20 area for retest of 1.3370 high and 1.3400 psychological level later today.

Buy EUR/USD at 1.3300,Stop-loss-1.3270,Take profit-1.3370(1.3420)

FXDREAM GBP/USD

Date: Fri, 8 December 2006 13:10:01
Resistance levels: 1.9640/1.9715/1.9770
Support levels: 1.9580/1.9550/1.9500

GBP/USD has squeezed further down to 1.9580 earlier today as suggested before the key US Non Farm Payrolls Number at 13:30 GMT. On the upside, in short term , first minor Resistance comes at 1.9640-45 area ahead of 1.9715 yesterday high. Strong data from USA may send price directly to 1.9500 and lower towards 1.9450. On the other side, soft Payrolls Numbers may restrength the bullish bias for test of 1.9800 and 1.9848 top. Unfortunately, our Long position has been stopped earlier at entry price at 1.9640 with no profit nor loss. Look to buy on a break above 1.9620 after the event for short term test of 1.9715 and then 1.9770. Hedge the position with Long limit USD/CHF position.

Buy GBP/USD at 1.9620,Stop-loss-1.9585,Take profit-1.9715(1.9770)

FXDREAM USD/JPY

Date: Fri, 8 December 2006 13:10:01
Resistance levels: 115.85/116.30/117.00
Support levels: 115.30/114.90/114.43

USD/JPY has risen further beyond 115.40 previous Resistance earlier today. Now markets are awaiting for US key Non-Farm Payrolls Number and Unemployment Rate in few minutes. Weaker than expected numbers may turn price back to 114.75 and even 114.43 bottom later today. On the other side, stronger than expected Non-Farm Payrolls Number may cause easy break of 115.85 Resistance sending price directly towards 116.30-35 area later today.

Strategy-neutral.

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