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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated October 18, 2006, 6:28 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Wed, 18 October 2006 13:10:01
Resistance levels: 1.2564/1.2580/1.2615
Support levels: 1.2505/1.2490/1.2457
EUR/USD has remained flat in the last two trading sessions as markets are waiting for US Consumer Price index at 12:30 GMT later today. Core Number,exluded energy and food, is expected at 0.2%. If the number comes out below 0.1% , it may be bullish for te pair sending price towards 1.2615-17 area later today. First important resistance comes at 1.2580. On the other side, core number above 0.3% may be bullish for the US Dollar and we may see price falling back towards 1.2506 yesterday bottom and lower towards 1.2457 downside target in mid-term.

Strategy-neutral.

FXDREAM GBP/USD

Date: Wed, 18 October 2006 13:10:01
Resistance levels: 1.8740/1.8800/1.8860
Support levels: 1.8690/1.8600/1.8520

GBP/USD has remained below 1.8740 first Resistance earlier today . First target at 1.8700 has been reached yesteday with 60 pips profit over the first part of our Long position. Now focus will be on US CPI Number in few minutes. Further rally towards 1.8800 may be seen as long as price is above 1.8690 first Support. A break below that level may turn price back to 1.8600 later today after US Data Release. Stay Long for test of 1.8780 and 1.8800 later today ,trailing stop-loss higher to 1.8685.

Holding GBP/USD Long at 1.8640,Stop-loss-1.8685(up from 1.8600), Take profit-1.8700(1.8780)

FXDREAM USD/JPY

Date: Wed, 18 October 2006 13:10:01
Resistance levels: 118.75/119.00119.35
Support levels: 118.30/118.00/117.40

USD/JPY has retraced up to 118.75 first Resistance earlier today. The sentiment remains bearish for the pair and further fall towards 118.00 level may be seen later today, giving scope for test of 117.40 in mid-term. On the upside, first immediate Resistance is at 118.75 ahead of 119.00 stronger one. Look to sell upsticks for test of 118.00 and lower later today on weak data from USA.

Strategy-neutral.



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