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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 15, 2006, 7:20 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 15 June 2006 13:10:05
Resistance levels: 1.2650/1.2690/1.2725
Support levels: 1.2590/1.2520/1.2470
EUR/USD has stayed quiet in the morning European trade as price has remained below 1.2650 first crucial Resistance. After US Opening a break below 1.2690-85 Asia lows may lead price lower down to 1.2530-20 swing area later today supported by strong US fundamental data. Next target is at 1.2470 and 1.2410 in longer term. On upside, rise above 1.2650 may extend upmove to 1.2690 key Resistance.

Strategy-neutral.

FXDREAM GBP/USD

Date: Thu, 15 June 2006 13:10:05
Resistance levels: 1.8490/1.8535/1.8610
Support levels: 1.8410/1.8350/1.8315

GBP/USD has retested 1.8495-1.8500 yesterday highs as it was suggsted. Now rebound back towards 1.8450 and 1.8410 is not ruled out later today. On the upside, a break above 1.8500-05 will be sign for further rally towards 1.8535 key Resistance and may open territory for further upmove towards 1.8610 in the next couples of days. Only fall below 1.8410-05 first crucial Support area may push price lower towards 1.8315 previous low.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 15 June 2006 13:10:05
Resistance levels: 115.50/116.00/116.40
Support levels: 114.70/114.30/113.55

The uptrend remains intact for the USD/JPY currency pair as 114.70 Support has held earlier today. Now 30 min or 1 hour close price above 115.15 is needed as confirmation for further rally towards 115.45-50 first Resistance area and even higher towards 115.90 later today. On downside, as long as price above 114.45 level the uptrend towards 116.30 is likely to continue in the next days.

Buy USD/JPY at 114.95,Stop-loss-114.60,Take profit-115.45(116.30)

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