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DAILY DAILY FX FORECASTS BY FX DREAM

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

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 18 July 2006 13:10:01
Resistance levels: 1.2575/1.2615/1.2685
Support levels: 1.2515/1.2475/1.2415
EUR/USD has risen to 1.2558-60 area during the morning European trade as it was suggested. Today focus will be on US Producer Price Index in few minutes. USD may be supported for test of 1.2480-75 key Support area. On the upside, first important Resistance lies at 1.2565 ahead of 1.2605-15 area. In longer term, a break below 1.2480 may give scope for test of 1.2330. Look to sell a rally towards 1.2575-80 for test of 1.2477 lows or a break below 1.2510 for test of 1.2415 and 1.2330 in longer term.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 18 July 2006 13:10:01
Resistance levels: 1.8310/1.8385/1.8425
Support levels: 1.8240/1.8180/1.8140

GBP/USD has risen directly to 1.8310 crucial Resistance passing easy through 1.8260 previous important level ahead of US Opening. If top is made around 1.8310 price may turn back towards 1.8190-80 key Support region after US Opening today. On the other side, a break above 1.8310-20 area may take price higher for test of 1.8385-90 region in the next trading sessions. First immediate Support lies at 1.8240. In longer term the sentiment remains bearish for test of 1.8100-8090 area. Look to sell on top for downmove towards 1.8220 and 1.8190 later today.

Strategy-neutral.

FXDREAM USD/JPY

Date: Tue, 18 July 2006 13:10:01
Resistance levels: 117.20/118.00
Support levels: 116.40/116.00/115.55

USD/JPY has found Support in the 116.70-55 area earlier today. The uptrend remains intact for retest of 117.29 previous highs and higher towards 118.00 target in medium term. First minor Support lies at 116.70 ahead of 116.40 stronger one.

Strategy-neutral.

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