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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 28, 2006, 8:50 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 28 July 2006 13:10:01
Resistance levels: 1.2715/1.2770/1.2825
Support levels: 1.2660/1.2600/1.2560
EUR/USD has eased dowjn to 1.2662 earlier today unable to rise above 1.2710-15 first Resistance area. Now focus will be on US GDP and Persobal Consumption Figures at 12:30 GMT. In short term sharp rally towards for test of 1.2735 and retest of 1.2772 previous highs is with equal chances with a break below 1.2660 for test of 1.2565 key Support. Look to sell below 1.2660 for test of 1.2600 and 1.2560 or buy a break above 1.2700 for retest of 1.2772 later today.

Strategy-neutral.

FXDREAM GBP/USD

Date: Fri, 28 July 2006 13:10:01
Resistance levels: 1.8640/1.8675/1.8760
Support levels: 1.8550/1.8520/1.8460

GBP/USD has retested 1.8550-40 Support area after fail to hold above 1.8620 earlier today. The next direction will depends on US Data in few minutes. Stronger than expected data may cause sharp fall towards 1.8465-60 later today. On the other side, dissappointing data may take price higher for test of 1.8640 and retest of 1.8675. Look to sell a break below 1.8550-40 region for test of 1.1.8460 or buy a breakout above 1.8600 for retest of 1.8675-80 later today. Hedge with USD/CHF Short opened.

Sell GBP/USD at 1.8550,Stop-loss-1.8585,Take profit-1.8470(1.8430)

FXDREAM USD/JPY

Date: Fri, 28 July 2006 13:10:01
Resistance levels: 116.05/116.65/117.40
Support levels: 115.30/115.00/114.70

USD/JPy has retested 115.30 lows earlier today. Now the next near term direction will depends on US GDP Figures . 116.00-05 has proved as crucial Resistance. On the other side, a break below 115.30 may open territory for further fall towards 114.70-60 Support area later today. Look to sell break below 115.30-25 area for test of 114.65 in near term and 113.90 in longer term.

Strategy-neutral.

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