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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated June 8, 2006, 6:19 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 8 June 2006 13:10:01
Resistance levels: 1.2805/1.2840/1.2885
Support levels: 1.2745/1.2722/1.2690
EUR/USD has stayed above 1.2745 ahead of ECB Rate Decision at 11:45 GMT. Retrace towards 1.2840-45 at least and even higher towards 1.2880 is likely to be seen after the event. First immediate Resistance is in the 1.2805-10 area On downside, break below 1.2745 may extend downmove lower towards 1.2722 and 1.2690 key Support. Buy at current levels ahead of ECB event with tight stop-loss order below 1.2745.Also we will stay Long USD/CHF trailing our stop-loss higher to 1.2225.

Buy EUR/USD at current levels, Stop-loss-1.2735,Take profit-1.2840(1.2880)

FXDREAM GBP/USD

Date: Thu, 8 June 2006 13:10:01
Resistance levels: 1.8650/1.8690/1.8735
Support levels: 1.8570/1.8530/1.8500

GBP/USD has fallen further down to 1.8465 ahead of BoE Rate Decision earlier today. BoE has remained the repo rate unchanged as expected. Later today pullback towards 1.8540 and 1.8610 is not ruled out. First Resistance is in the 1.8535-40 area. On downside, break below 1.8465 lows may lead price lower to 1.8420. Unfortunately, our Long at 1.8530 has been stopped with 40 pip Loss.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 8 June 2006 13:10:01
Resistance levels: 113.80/114.20/114.90
Support levels: 113.45/112.90/112.48

USD/JPY has squeezed higher towards 114.15-20 area as it was suggested earlier today. Now pullback down to 113.45 first important Support and even down to 113.00-112.90 may be seen later today, before the next up wave towards 114.20 and 115.50 in longer term. Strategy-neutral.

Strategy-neutral.

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