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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 6, 2006, 7:11 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 6 June 2006 13:10:01
Resistance levels: 1.2890/1.2970/1.3000
Support levels: 1.2830/1.2780/1.2722
EUR/USD has broken 1.2890-85 Support area earlier today. Later today further downmove to 1.2790 may be seen. The bias is bearish in near term. First Resistance comes at 1.2890 now. In longer term, fall down to 1.2750 may be seen today and tomorrow ahead of ECB rate decision on Thursday and bounce back towards the upper side of the 1.2700-1.2980 range at the end of the week.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 6 June 2006 13:10:01
Resistance levels: 1.8700/1.8810/1.8870
Support levels: 1.8620/1.8570/1.8525

GBP/USD has dropped below 1.8690-80 Asia lows and later today further fall down to 1.8580-70 crucial Support is likely to be seen. First immediate Support is at 1.8620. No fundamentalk news from USA are expected today, so we will have technically trade. In longer term, 1.8530-25 lows may be tested ahead of Thursday events. Fisrt Resistance is at 1.8700. The sentiment is negative after Bernanke Comments yesterday.

Strategy-neutral.

FXDREAM USD/JPY

Date: Tue, 6 June 2006 13:10:01
Resistance levels: 112.90/113.35/113.80
Support levels: 112.00/111.50/110.90

USD/JPY has risen towards 112.90 today after pullback down to 112.00 earlier today. Our Short at 112.25 has been stopped at 112.55 with small 30 pip loss. In the next couples of days, a break above 112.90 will take price higher towards 113.35-40 previous highs. First Resistance is at 112.90-95. First important Support comes at 112.00.

Strategy-neutral.

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