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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 13, 2006, 6:50 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 13 July 2006 13:10:01
Resistance levels: 1.2735/1.2785/1.2815
Support levels: 1.2680/1.2635/1.2610
EUR/USD has found crucial Resistance in the 1.2730-5 earlier today and bounced back towards 1.2680 first Support. Later today further downmove towards 1.2655 and even 1.2635 may be seen. On the upside, a break above 1.2735 first Resistance is needed as a sign for further upmove towards 1.2780. Stay aside for now as the bias is neutral.

Strategy-neutral.

FXDREAM GBP/USD

Date: Thu, 13 July 2006 13:10:01
Resistance levels: 1.8420/1.8475/1.8560
Support levels: 1.8370/1.8315/1.8260

GBP/USD has broken 1.8370 previous Resistance and price has risen to 1.8420 our first target. Part of the Long position has been closed at 1.8420 for small 50 pip profit. Later today further upmove towards 1.8475-80 may be seen as long as price is above 1.8370 first Support. On downside, fall below 1.8370 may turn price back towards 1.8315-10 previous lows. Stay Long for test of 1.8475 trailing stop-loss order higher to entry price.

Holding USD/GBP Long at 1.8370,Stop-loss-1.8370(up from 1.8335) Take profit-.1.8420(1.8475)

FXDREAM USD/JPY

Date: Thu, 13 July 2006 13:10:01
Resistance levels: 115.75/116.25/116.50
Support levels: 115.00/114.40/113.90

USD/JPY has fallen down to 115.00 earlier today. A break below 115.20-00 area later today may turn price back in the 114.45-40 area. The two days Meeting of Bank of Japan begins today. Interest rate hike tomorrow is likely to take price lower down to its last week lows at 113.45. On the upside, as long as price is above 115.25 there is risk of retest of 115.75 highs and even higher to 116.00. Look to sell on breakout below 115.20-00 region for test of 114.40 and lower towards 113.90 in the next trading sessions.

Strategy-neutral.

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