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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 22, 2006, 7:27 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 22 June 2006 13:10:01
Resistance levels: 1.2617/1.2672/1.2695
Support levels: 1.2575/1.2530/1.2470
EUR/USD has fallen sharply in last few hours down to 1.2575. The breakout below 1.2617-00 suggests that the sentiment has been reversed for another test of 1.2537-30 key Support later today. First immediate Support comes at 1.2575. in longer term a break below 1.2530 will open territory for further waekness towards 1.2410. On the upside, if the immediate Support at 1.2575 holds, pullback towards 1.2617 is possible after US Opening. Unfortunately, our suggested Long at 1.2630 has been stopped at 1.2595 with 35 pip loss. Strategy-neutral.

Strategy-neutral.

FXDREAM GBP/USD

Date: Thu, 22 June 2006 13:10:01
Resistance levels: 1.8370/1.8410/1.8472
Support levels: 1.8285/1.8210/1.8170

GBP/USD has dropped sharply down to 1.8282 earlier today after massive sell off. The sentiment has turn into bearish and 1.8170 target may be set in longer term. First immediate Support comes 1.8285. After US Opening pullback towards 1.8360-70 first Resistance area is likely to be seen before the next downmove below 1.8285 in the next trading sessions.On downside, a break below 1.8285 later today may push price lower towards 1.8210 later today. Look to sell on pullback up to 1.8365 or sell breakout below 1.8285 for test of 1.8170.

Sell GBP/USD at 1.8365,Stop-loss-1.8405,Take profit-1.8290(1.8180)

FXDREAM USD/JPY

Date: Thu, 22 June 2006 13:10:01
Resistance levels: 115.80/116.38
Support levels: 115.30/114.55/114.00

USD/JPY has broken 115.30 crucial Resistance earlier today for retest of 115.77 previous high and then 116.38 target. The bias has turn into bullish as long as price is above 115.30 important level. In short term, pullback to 115.25 is possible before the next upmove towards 116.38. look to buy on dips around 115.30 for a rally towards 116.38 .

Strategy-neutral.

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