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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 29, 2006, 8:40 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 29 June 2006 13:10:01
Resistance levels: 1.2585/1.2615/1.2650
Support levels: 1.2518/1.2500/1.2475
EUR/USD has fallen further down to 1.2518 after quiet morning European trade ahead of US GDP and FOMC Statement Release later today. The bias remains bearish for the pair and further fall towards 1.2475 previous lows and 1.2410 in the next couples of days may be seen. There is minor Support at 1.2500. On the upside, 1.2585-90 will cap any pullback after US Opening. The key Resistance is at 1.2615. A break above 1.2615 strong Resistance is needed for test of 1.2685 highs. Look to sell on upsticks for retest of 1.2475 and lower to 1.2410.

Strategy-neutral.

FXDREAM GBP/USD

Date: Thu, 29 June 2006 13:10:01
Resistance levels: 1.8170/1.8225/1.8260
Support levels: 1.8125/1.8080/1.8050

GBP/USD has dropped below 1.8130-25 previous lows earlier today. The sentiment remains negative for the pair and later today further downmove towards 1.8050 is possible.In longer term 1.7950-20 area may be set for the pair. First immediate Resistance comes at 1.8170 ahead of 1.8225 and 1.8264 previous highs. Hold Short as Long for a test of 1.8050 and 1.7950 in longer term.

Holding GBP/USD Short at 1.8130,Stop-loss-1.8170,Take profit-1.8060(1.7960)

FXDREAM USD/JPY

Date: Thu, 29 June 2006 13:10:01
Resistance levels: 116.60/117.00/117.50
Support levels: 116.05/115.85/115.30

No change in our view since our last report for the USD/JPY pair after qiuet morning European trade. Today a break above 116.60 is likely to be seen after FOMC Statement for a test of 117.10 and 117.40, giving scope for further rise towards 119.00 in longer term. On downside, first Support comes at 116.05. The uptrend remains intact as long as price is above 115.85. Look to buy on dips for test of 117.10 and higher ahead or after FOMC Desicion tomorrow.

Strategy-neutral.

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