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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 21, 2006, 6:47 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 21 July 2006 13:10:01
Resistance levels: 1.2680/1.2730/1.2760
Support levels: 1.2620/1.2590/1.2515
EUR/USD has risen up to 1.2680-85 target area as it was suggested during the morning European trade. Part of the Long position at 1.2600 may be closed at 1.2680 for 80 pip profit. The bias remains bullish for test of 1.2725-30 next Resistance area later today and 1.2760 in longer term. First Support lies at 1.2620 ahead of 1.2590 key one. Stay Long for test of 1.2725-30 till the end of the day. trailing stop-loss order higher to 1.2620.

Holding EUR/USD Long at 1.2600,Stop-loss-1.2620(up from 1.2565),Take profit-1.2680(1.2720)

FXDREAM GBP/USD

Date: Fri, 21 July 2006 13:10:01
Resistance levels: 1.8600/1.8650/1.8760
Support levels: 1.8540/1.8500/1.8450

GBP/USD has surged to 1.8560-80 region as it was suggested in our previous report, supported by stronger than expected UK GDP Figures. The bias remains positive for test of 1.8630-50 region later today. In longer term, 1.8760 may be set for the next week. First minor Support lies at 1.8540 ahead of 1.8500 stronger one.

Strategy-neutral.

FXDREAM USD/JPY

Date: Fri, 21 July 2006 13:10:01
Resistance levels: 116.50/117.20/117.90
Support levels: 115.55/115.00/114.50

USD/JPY has dropped below 116.60 previous key Support for test of 115.55 today. The sentiment remains bearish for the pair. A break below 115.55 previous low may open territory for further downmove towards 113.90 next week. First Resistance comes at 116.55-60 previous Support area.

Strategy-neutral.

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