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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 10, 2006, 7:18 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 10 July 2006 13:10:05
Resistance levels: 1.2810/1.2860/1.2920
Support levels: 1.2750/1.2700/1.2655
EUR/USD has risen sharply on Friday after US Nonfarm Payrolls Release. Our target at 1.2850 has been reached and we have closed our Long position at 1.2735 for 135 pip profit. Today price has turned back to Fridays lows at 1.2750. If the immediate Support is broken, further downmove towards 1.2705-00 key Support region is possible. If, however, it holds pullback towards 1.2790-1.2810 region is likely to be seen. In longer term, a break above 1.2860 is needed for retest of 1.2970 previous highs later this week. Stay aside for now and look to buy on dips as long as price is above 1.2700 for retest of 1.2850-60 highs.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 10 July 2006 13:10:05
Resistance levels: 1.8475/1.8560/1.8600
Support levels: 1.8420/1.8360/1.8320

GBP/USD has fallen down below 1.8420 key Support during the morning European trade session. If the Support in the 1.8420-10 region holds, rebound back towards 1.8480 and 1.8500 may be seen after US Opening. If, however, it is broken, further downmove towards 1.8360 is likely to be seen. In longer term, a beak above 1.8560 is needed for retest of 1.9020 previous highs. No trades for now as the sentiment is neutral.

Strategy-neutral.

FXDREAM USD/JPY

Date: Mon, 10 July 2006 13:10:05
Resistance levels: 114.00/114.60/115.30
Support levels: 113.50/113.15/112.80

USD/JPY has found temporary bottom in the 113.50-45 area and rebounded towards 114.00-10 first Resistance area earlier today. The bias remains negative after expections about Bank of Japan interest rates hike and stronger JPY. Technically, further upmove towards 114.60 is not ruled later today. Look to sell on upsticks for retest of 113.45 lows and lower towards 113.15 key Support.

Strategy-neutral.

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