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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated November 2, 2006, 6:33 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 2 November 2006 13:10:01
Resistance levels: 1.2775/1.2800/1.2830
Support levels: 1.2735/1.2700/1.2660
EUR/USD has risen slightly to 1.2775 earlier today after stronger than expected EuroZone PMI Manifacturing Index. ECB has left the rate unchanged at 3.25% as it was suggested. Market is waiting for Trichet Press conference at 13:30 GMT. Signs for another hike in December in Trichet Comments may push price sharply towards 1.2830 previous top later today. On downside, first Support comes at 1.2735 ahead of 1.2680-60 key Support area.

Buy EUR/USD at 1.2665,Stop-loss-1.2630,Take profit-1.2825(1.2855)

FXDREAM GBP/USD

Date: Thu, 2 November 2006 13:10:01
Resistance levels: 1.9100/1.9140/1.9180
Support levels: 1.9020/1.8990/1.8960

GBP/USD has risen beyond 1.9100 earlier today on strong data from EU and UK. Now markets are focused on ECB Press Conference in few minutes. The bias remains positive for retest of 1.9142-46 previous top from August and higher towards 1.9180 on hawkish comments by Trichet. On downside, first Support comes at 1.9020 ahead of 1.8990 stronger one. Look to buy on hawkish comments for retest of 1.9142 at least later today.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 2 November 2006 13:10:01
Resistance levels: 117.30/117.70/118.05
Support levels: 116.55/116.15

USD/JPY has tested 117.30 first immediate Resistance in Asia and dropped back towards 116.60 earlier today as it was suggested in our previous report.. In longer term, the sentiment remains negative for test of 116.15. On the upside, first important Resistance is at 117.30 ahead of 117.70 Look to sell on upsticks for test of 116.15.

Strategy-neutral.



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