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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 16, 2006, 7:16 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 16 June 2006 13:10:01
Resistance levels: 1.2690/1.2725/1.2750
Support levels: 1.2625/1.2580/1.2530
EUR/USD has retested 1.2660 level earlier today reaching new highs at 1.2670. The bias remain bullish in near term as long as price is above 1.2630-25 region and later today price may squeeze higher to 1.2685-90 area. The final up target in medium term lies in the 12750-60 region. On downside, the swing level is at 1.2590-80 area ahead of 1.2520 previous lows.

Strategy-neutral.

FXDREAM GBP/USD

Date: Fri, 16 June 2006 13:10:01
Resistance levels: 1.8560/1.8610/1.8680
Support levels: 1.8490/1.8455/1.8410

GBP/USD has made pullback down to 1.8509 earlier today. The uptrend towards 1.8630 and 1.8650 area remains intact as long as price is above 1.8455-50 first strong Support area. The sentiment has turn into bullish after yesterdays weak US Capital Flow Data. We will stay Long trailing our Stop-loss higher to 1.8490. First target in short terms is at 1.8590.

Holding GBP/USD Long at 1.8520,Stop-loss-1.8490,Take profit-1.8590(1.8650)

FXDREAM USD/JPY

Date: Fri, 16 June 2006 13:10:01
Resistance levels: 115.50/116.00/116.40
Support levels: 114.70/114.30/113.55

USD/JPY has found temporary Support in the 114.55-45 area and price has turned back into 114.60-115.15 range. Breakout below 114.50-45 key Support area is needed as confirmation for further fall down to 113.60 and even lower in the next trading days. On upside, an hour close price price above 115.15 may cause further squeeze towards 115.45-50 area. Stay away today.

Strategy-neutral.

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