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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 21, 2006, 7:25 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 21 June 2006 13:10:01
Resistance levels: 1.2650/1.2672/1.2695
Support levels: 1.2595/1.2530/1.2470
No change in our view for the EUR/USD currency pair since our last report. The sentiment remains positive after Trichet Comment on further interest hike in August as long as price is above 1.2590 trend Support and price may squeeze higher towards 1.2652 and 1.2672 Fridays highs later today. The max high for today is the 1.2690-1.2700 strong Resistance area. First immediate Support lies in the 1.2600-1.2590 region. A break below would risk another test of 1.2537-30 key Support region.

Strategy-neutral.

FXDREAM GBP/USD

Date: Wed, 21 June 2006 13:10:01
Resistance levels: 1.8472/1.8560/1.8610
Support levels: 1.8400/1.8360/1.8315

GBP/USD has dropped down to 1.8406 earlier today as Bank of England has remained its interest rate policy unchanged. The sentiment has turn into bearish and later today further downmove towards 1.8370-60 area at least is likely to be seen. A break below 1.8400 will be first signal for another sell-off later today.Breakout below 1.8365-60 area may open territoty for a test of 1.8316 previous lows. On the upside, pullback towards 1.8460 also is not ruled out. Our long GBP/USD position has been stopped at 1.8412 with 38 pip loss.

Strategy-neutral.

FXDREAM USD/JPY

Date: Wed, 21 June 2006 13:10:01
Resistance levels: 115.30/115.80/116.38
Support levels: 114.55/114.00/113.55

USD/JPY has rebounded higher towards 115.30 first important Resistance earlier today. Rise above 115.30 will be sign that bottom has been formed in Asia and further rally towards 115.80-85 previous highs and 116.30-40 area has been started. On downside, if the Resistance at 115.30 holds after US opening today, another flop down to 114.00 and 113.60 also is not ruled out. First part of our Short position has met its target at 114.55 in Asia for 55 pip profit. Unfortunately, the other part of the postion has been stopped at entry price.

Strategy-neutral.

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