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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated May 5, 2006, 6:24 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 5 May 2006 13:10:03
Resistance levels: 1.2730/1.2770/1.2860
Support levels: 1.2650/1.2610/1.2555
EUR/USD has stayed sideway after quiet morning Europaen trade. Markets are waiting for US Nonfarm Payrolls numbers later today at 12:30 GMT. Stronger than expected data may cause retrace down to 1.2600 and even lower. But still breakout below 1.2555 is needed for deeper correction towards 1.2470.First Support comes in the 1.2660-50 area. First Support comes in the 1.2660-50 area. Price may stayed capped below 1.2730 crucial Resistance today.In longer term, the sentiment remains bullish with target up to 1.2890..

Strategy-neutral.

FXDREAM GBP/USD

Date: Fri, 5 May 2006 13:10:03
Resistance levels: 1.8550/1.8590/1.8660
Support levels: 1.8475/1.8350/1.8315

GBP/USD has fallen slightly to 1.8475-70 first Support area earlier. Market will be focused on US Data later today. Until price is above 1.8470 there are chances of a rally towards 1.8590 today. But better than expected US Data may cause retrace down towards 1.8418 and even lower towards 1.8360 key Support. The uptrend remains strong and we may target 1.8740 highs for the next week. We will stay aside as we already have Long USD/CHF position.

Strategy-neutral.

FXDREAM USD/JPY

Date: Fri, 5 May 2006 13:10:03
Resistance levels: 114.20/114.80/115.45
Support levels: 113.20/112.90/112.30

USD/JPY has risen towards 114.20 crucial Resistance again. It is likely to be broken later today after US Data Release at 12:30 GMT. Rally towards 114.80 is not ruled out today. But until 114.20 crucial Resistnce remains intact, the bias is bearish with medium term target at 112.33 previous lows.

Strategy-neutral.

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