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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 27, 2006, 7:04 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 27 July 2006 13:10:01
Resistance levels: 1.2740/1.2800/1.2850
Support levels: 1.2710/1.2670/1.2625
EUR/USD has stayed quiet in the early morning European trade trading as loss of momentum has prevented price from sharp rally towards 1.2800. In short term, retreat down to 1.2710-1.2672 Support area is not ruled after US Data Releases at 12:30 GMT and 14:00 GMT. It is likely to hold later today causing another up wave towards 1.2800 and 1.2850 in the next days. Stay cautous Long with tight stop-loss order.

Holding EUR/USD Long at 1.2740,Stop-loss-1.2710,Take profit-1.2800(1.2850)

FXDREAM GBP/USD

Date: Thu, 27 July 2006 13:10:01
Resistance levels: 1.8650/1.8700/1.8760
Support levels: 1.8585/1.8520/1.8490

GBP/USD has squeezed higher to 1.8650( just a shy away from our first target at 1.8660) ihn the last few hours. Now markets are waiting for US Data at 12:30 GMT. First immediate Support lies at 1.8585 ahead of 1.8520 key one. Retreat down to 1.8550-20 area is not ruled later as price is traded in overbought territory. On the upside, the bias remains bullish and negative news from USA may strengthen price for test of 1.8700 later today. Stay Long trailing stop-loss higher to entry price is order to avoid losses.

Holding GBP/USD Long at 1.8585,Stop-loss-1.8585(up from 1.8550),Take profit-1.8660(1.8700)

FXDREAM USD/JPY

Date: Thu, 27 July 2006 13:10:01
Resistance levels: 116.20/116.65/117.40
Support levels: 115.50/115.10/114.70

USD/JPY has eased further below 115.80 previous lows and important Support. The sentiment remains negative in longer term for test of 114.70-65 area. In short term, loss of momentum may cause retrace back towards 116.20 first Resistance later today, but price is likely to stay below 116.60. Only rise above 116.60-65 may turn price back in positive rerritory. Look to sell on recovery towards 116.20 and beyond for test of 115.10 and 114.70.

Strategy-neutral.

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