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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 6, 2006, 6:38 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 6 July 2006 13:10:01
Resistance levels: 1.2750/1.2795/1.2840
Support levels: 1.2700/1.2655/1.2610
EUR/USD has remained below 1.2750 first Resistance after ECB Rate Decision. Now markets are waiting for Trichet Press Conference at 12:30 GMT. Hopes for interest hike in August may strengthen the pair for a rally towards 1.2795 and 1.2838 retest later today. On downside, dovish comments may turn price back towards 1.2655 later today. First crucial Support lies at 1.2705-00 region and yesterdays lows. Stay Long for a rally towards 1.2790 and 1.2838 later today.

Holding EUR/USD Long at 1.2735,Stop-loss-1.2700,Take profit-1.2795( 1.2835)

FXDREAM GBP/USD

Date: Thu, 6 July 2006 13:10:01
Resistance levels: 1.8385/1.8485/1.8560
Support levels: 1.8315/1.8260/1.8190

GBP/USD has remained ranged during the morning European trade as Bank of England has remained interest rates unchanged as it was suggested. Now markets are focused on Trichet Comments. In short term, rally towards 1.8450 and 1.8485 is possible as long as price is above 1.8315 strong Support. On the other side, a fall below 1.8315 may take price lower for a test of 1.8260 later today.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 6 July 2006 13:10:01
Resistance levels: 115.85/116.50
Support levels: 115.25/114.55/114.15

USD/JPY has remained unchanged in the last trading hours. First strong Support lies in the 115.30-25 area. If it is broken later today, we may see price reaching 114.55 Support ahead of US Job Numbers tomorrow. On the upside, a break above 115.80 is needed for a test of 116.50-70 next target area in the next couples of days. For today price may stay limited to 116.25.

Strategy-neutral.

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