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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated July 7, 2006, 6:20 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 7 July 2006 13:10:01
Resistance levels: 1.2795/1.2840/1.2920
Support levels: 1.2750/1.2700/1.2655/1.2610
EUR/USD has tested 1.2790 target as it was suggseted earlier today after quiet trade in the 1.2765-1.2791 range ahead of US Nonfarm Payrolls Figures in an hour. Part of our Long position entered at 1.2735 has been closed at 1.2790 for 55 pip profit. Now strong Data from USA may cause sharp fall down to 1.2660 later today. First important Support lies in the 1.2705-00 region. On the upside, there is chance of a sharp rally towards 1.2850 and 1.2920 later today after US Data Release. Stay cautious Long for test of 1.2850 and higher later today.

Holding EUR/USD at 1.2735,Stop-loss-1.2650,Take profit-1.2850(1.2900)

FXDREAM GBP/USD

Date: Fri, 7 July 2006 13:10:01
Resistance levels: 1.8420/1.8485/1.8560
Support levels: 1.8315/1.8260/1.8190

GBP/USD has squeezed higher to 1.8420-25 area ahead of US Nonfarm Payrolls Figures at 12:30 GMT. After US Payrolls Release sharp fall towards 1.8260 and even 1.8190 next week or sharp rally towards 1.8485 and then 1.8560 may be seen. First strong Support and reversal level comes at 1.8315. Try to sell for a dip towards 1.8260 with tight stop-loss ahead of US Data Release.

Sell GBP/USD at 1.8400,Stop-loss-1.8435,Take profit-1.8270(1.8210

FXDREAM USD/JPY

Date: Fri, 7 July 2006 13:10:01
Resistance levels: 115.30/115.85/116.50
Support levels: 114.55/114.15/113.35

USD/JPY has fallen down to 114.55 first Support as it was suggested ahead of important US Data Release at 12:30 GMT. After the event there are equal chances of a sharp rally towards 115.85 and 116.00, that may open territory for further upmove towards 116.50-70 area next week, or sharp fall down to 113.35-30 strong Support area.

Strategy-neutral.

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