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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 12, 2006, 6:51 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 12 July 2006 13:10:02
Resistance levels: 1.2750/1.2785/1.2815
Support levels: 1.2700/1.2655/1.2610
EUR/USD has dropped sharply earlier today after second unsuccessful test of 1.2780. Today focus will be on US Trade Deficit Numbers at 12:30 GMT. Higher than expected trade deficit may give strength for rally towards 1.2780 and higher to 1.2812 later today. First Resistance lies at 1.2750. On downside, a break below 1.2700 key Support may cause further downmove towards 1.2655 later today. We will buy EUR/USD at current levels with tight stop-loss order just below 1.2700 key Support.

Strategy-neutral.

FXDREAM GBP/USD

Date: Wed, 12 July 2006 13:10:02
Resistance levels: 1.8440/1.8475/1.8560
Support levels: 1.8360/1.8320/1.8260

GBP/USD has dipped sharply after massive sell-off earlier today as Uk Unemployment has reached its highest level since 2002. Now big volatility may be expected after US Trade Balance Release in few minutes. Rebound back towards 1.8450 and 1.8475 is quiet possible later today. If , however, the Data from USA are positive further downmove towards 1.8323 previous low is likely to be seen in short term. First strong Support lies in the 1.8365-60 area.

Strategy-neutral.

FXDREAM USD/JPY

Date: Wed, 12 July 2006 13:10:02
Resistance levels: 115.30/115.75/116.50
Support levels: 114.50/113.90/113.50

USD/JPY has risen directly towards 115.30breaching 114.90 previous strong Resistance. Later today rebound back towards 114.45 first Support may be seen after US Trade Deficit Release in few minutes. On the upside, a break above 115.30 key Resistance is needed for further upmove towards 115.70-75 area. In longer term, the bias is neutral after expectation about Bank of Japan interest rates hike on Friday and stronger JPY

Strategy-neutral.

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