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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 30, 2006, 6:46 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 30 June 2006 13:10:01
Resistance levels: 1.2760/1.2815/1.2860
Support levels: 1.2685/1.2620/1.2580
EUR/USD has remained flat in the morning European trade. The positive bias remains intact for the pair after FOMC Statement yesterday and further upmove towards 1.2760-65 may be seen later today. On downside, a break below 1.2700 may push price lower to 1.2640 after the important US Data at 12:30 GMT. The key Support lies at 1.2620. Stay Long for test of 1.2760 first strong Resistance and then higher towards 1.2815

Holding EUR/USD Long at 1.2700,Stop-loss-1.2665,Take profit-1.2760(1.2810)

FXDREAM GBP/USD

Date: Fri, 30 June 2006 13:10:01
Resistance levels: 1.8385/1.8435/1.8470
Support levels: 1.8315/1.8260/1.8190

GBP/USD has risen towards 1.8380-85 region as it was suggested supported by strong fundamental data from UK. Firts Support now comes at 1.8315-00 area with key one at 1.8260. FOMC Statement has given scope for retest of 1.9020 previous highs in long term. A break above 1.8385 may lead price towards 1.8460 in short term. Stay Long trailing stop-loss higher to entry price at 1.8330.

Holding GBP/USD Long at 1.8330,Stop-loss-1.8330(up from 1.8290),Take profit-1.8385(1.8460)

FXDREAM USD/JPY

Date: Fri, 30 June 2006 13:10:01
Resistance levels: 114.85/115.30/115.75
Support levels: 114.40/113.90/113.20

USD/JPY has spiked down to 114.45 earlier today. Now rebound towards 114.80-85 first Resistance area is possible. If it is broken, price may squeeze higher towards 115.25-30 strong Resistance later today. If, however, it holds, dip down to 114.15-10 area is not ruled out later today. In longer term, 113.20 target may be set for the pair.

Strategy-neutral.

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