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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 26, 2006, 7:09 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 26 July 2006 13:10:01
Resistance levels: 1.2605/1.2660/1.2710
Support levels: 1.2560/1.2515/1.2460
EUR/USD has held above 1.2560 crucial Support earlier today supported by better than expected IFO Index. The bias remains bearish with break below 1.2660 would signal further weakness towards 1.2515 and 1.2480 later today.On the upside, only rise above 1.2625 may negate the bearish sentiment for retest of 1.2707 previous high. First immediate Support lies at 1.2605. Look to sell a break below 1.2560 for test of 1.2515 and 1.2480 in the next couples of days.

Strategy-neutral.

FXDREAM GBP/USD

Date: Wed, 26 July 2006 13:10:01
Resistance levels: 1.8445/1.8485/1.8540
Support levels: 1.8385/1.8300/1.8230

GBP/USD has eased down to 1.8480 first Support after London GBP/USD has remained above 1.8383 yesterdays low and immediate Support earlier today. The bias remains bearish in short term as long as price is below 1.8445 first Resistance. Weakness down to 1.8330 and 1.8300 is possible after US Opening later today. On the upside, a rise above 1.8435 Asia limit may is likely to cause retrace up towards 1.8485-90 Resistance area. Look to sell a break below 1.8383 for test of 1.8300 and 1.8260. As soon as price touches 1.8330 move stop-loss lower to entry price.

Sell GBP/USD at 1.8385, Stop-loss-1.8420,Take profit-1.8310(1.8270)

FXDREAM USD/JPY

Date: Wed, 26 July 2006 13:10:01
Resistance levels: 117.40/117.90/118.40
Support levels: 116.50/116.15/115.75

USD/JPY has eased down to 116.60 earlier today as it was suggested. The trade remains choppy in the 117.00-116.50 range. In longer term,a break below 116.50 key Support may take price lower for test of 115.80-75 in the next trading sessions. On the upside, as long as price is above 116.50 there are chances of a rally towards 117.88 previous highs and 118.40 in the upcoming days.

Strategy-neutral.

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