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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 19, 2006, 6:47 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 19 July 2006 13:10:02
Resistance levels: 1.2520/1.2575/1.2625
Support levels: 1.2475/1.2415/1.2370
EUR/USD has remained quiet ranged between 1.2515 first mior Resistance and 1.2480-75 key Support area earlier today. The bias remains negative for the pair and another test of 1.2475 is likely to be seen later today. Today focus will be on US Consumer Price Index at 12:30 GMT and Bernanke Testify at 14:00 GMT. A break below 1.2480 may take price down to 1.2415 later today giving scope for test of 1.2330 previous bottom in longer term. On the upside,a break above 1.2511-20 area may cause recovery towards 1.2560. Look to sell on breakout below 1.2480 for test of 1.2415 later today.

Sell EUR/USD at 1.2480,Stop-loss-1.2515,Take profit-1.2420(1.2380)

FXDREAM GBP/USD

Date: Wed, 19 July 2006 13:10:02
Resistance levels: 1.8310/1.8385/1.8425
Support levels: 1.8240/1.8180/1.8140

GBP/USD has remained below 1.8295-1.8300 area earlier today after Bank of England has remained rate unchanged at 4,50%. Now markets are waiting for US Data Release and Bernanke Speech at 14:00 GMT. Signals for end of interest hike may lift price higher directly to 1.8385 later today. On downside, a break below 1.8240 first Support may turn price back at 1.8180-77 bottow and lower to 1.8140 next important Support. Look to buy a break above 1.8295-8300 area for test of 1.8380 and higher or sell a break below 1.8235 for test of 1.8140 and 1.8100-8090 previous bottom after Bernanke Comments.

Buy GBP/USD at 1.8300,Stop-loss-1.8260,Take profit-1.8380(1.8420)

FXDREAM USD/JPY

Date: Wed, 19 July 2006 13:10:02
Resistance levels: 117.70/118.00/118.40
Support levels: 117.15/116.70/116.40

USD/JPY has risen further for test of 118.00 target earlier today. The uptrend remains intact as long as price is above 117.20-15 first Support region. Later today further upmove towards 118.00 and even 118.40 is not ruled out after Bernanke Speech. Dovish comments on the other side may turn price back to 117.15 Asia lows ahead of 116.70 key Support.

Strategy-neutral.

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