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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 23, 2006, 6:53 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 23 June 2006 13:10:01
Resistance levels: 1.2550/1.2610/1.2650
Support levels: 1.2500/1.2470/1.2410
EUR/USD has dropped directly to 1.2500 earlier today after easy break of 1.2530 previous key Support. As long as price is below 1.2530 there are chances of a further sell-off towards 1.2470-65 later today and 1.2410 in longer term. On the upside, negative data from USA at 12:30 GMT may cause temporary rebound to 1.2550 later today before the next down wave towards 1.2410.

Strategy-neutral.

FXDREAM GBP/USD

Date: Fri, 23 June 2006 13:10:01
Resistance levels: 1.8260/1.8315/1.8365
Support levels: 1.8170/1.8130/1.8100

GBP/USD has dipped down to 1.8170 our target as it was suggested earlier today after massive sell off and direct breakout below 1.8260 previous immediate Support. The sentiment remains bearish and further downmove towards 1.8125 and 1.8100 may be seen later today after US Opening. US Durable Goods Data may influence the market for temporary rebound towards 1.8210 and 1.8260 as well.

Strategy-neutral

FXDREAM USD/JPY

Date: Fri, 23 June 2006 13:10:01
Resistance levels: 116.65/117.00/117.50
Support levels: 116.20/115.80/115.30

USD/JPY has risen beyond yesterday highs as it was suggested and price is likely to squeeze higher to 116.65 and even higher later today. The uptrend looks strong with first immediate Support in the 116.20-15 area. More volatility may be seen after US Data Release at 12:30 GMT. Stay Long trailing Stop-loss higher to 116.10

Holding USD/JPY Long at 116.00,Stop-loss-116.10(up from 115.70),Take profit-116.60(117.00)

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