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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated November 6, 2006, 9:28 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 6 November 2006 13:10:01
Resistance levels: 1.2735/1.2760/1.2800
Support levels: 1.2680/1.2640/1.2600
EUR/USD has dropped sharply down to 1.2680 strong Support on Friday as US Unemployment rate has fallen to a five years level. The bias has turned into bearish for further downmove down towards 1.2640 and 1.2600 key Support later this week as long as price is below 1.2760 first important Resistance. First immediate Resistance comes at 1.2735. In short term range trade between 1.2735 Resistance and 1.2682 Friday low may is likely to be seen. Look to sell on upsticks towards 1.2735 for retest of 1.2680 Support and lower towards 1.2640 tomorrow.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 6 November 2006 13:10:01
Resistance levels: 1.9000/1.9030/1.9100
Support levels: 1.8910/1.8860/1.8800

GBP/USD has fallen sharply to 1.8960 previous strong Support on Friday after US Jobless data Release. Earlier today GBP/USD has squeezed lower to 1.8943. The sentiment has turn into bearish for deeper correction to 1.8860 at least in mid term. In near term further downmove towards 1.8910 may be seen later today. First Resistance comes at 1.9000. Only a break beyond 1.9030 may negate the bearish scenario. Look to sell on upsticks for test of 1.8860 at least.

Sell GBP/USD at 1.8970,Stop-loss-1.9010,Take profit-1.8910(1.8860

FXDREAM USD/JPY

Date: Mon, 6 November 2006 13:10:01
Resistance levels: 118.40/118.75/119.20
Support levels: 117.80/117.15/116.57

USD/JPY has reversed back in positive territory after stronger than expected data from USA on Friday. Further rally towards 118.75 is likely to be seen in short term and 119.15-20 area in mid term. On downside, first crucial Support comes around 117.80 ahead of 117.15 Friday pre data consolidation range. Trade from Long side for test of 119.20.

Strategy-neutral.

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