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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated October 3, 2006, 7:12 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 3 October 2006 13:10:01
Resistance levels: 1.2760/1.2800/1.2830
Support levels: 1.2715/1.2695/1.2630
EUR/USD has failed to break above 1.2760 Resistance after London Opening. While price is below 1.2760 there is risk of retreat downjh to 1.2715 first Support. Only below 1.2700, however , will resume the bearish bias for retest of 1.2630 bottom. No important fundamental news today. The bias remains positive for test of 1.2800 and 1.2829 previous top ahead of ECB Rate Decision on Thursday.Look to buy on dips towards 1.2715-00 area for test of 1.2780 and 1.2820 or a breakout beyond 1.2760 for test of 1.2829 previous top.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 3 October 2006 13:10:01
Resistance levels: 1.8900/1.8915/1.8980
Support levels: 1.8850/1.8800/1.8750

GBP/USD has climbed to 1.8900 earlier today. Loss of momentum may cap upmove to 1.8915-18 strong Resistance , causing retreat down towards 1.8850-40 first Support area in near term, but only below 1.8800 crucial Support will turn the bearish sentiment back for test of 1.8600 bottom. Look to buy on downsticks towards 1.8840 or 1.8800 for test of 1.8915 and 1.8980 in the next trading sessions and 1.9070-90 area in longer term.

Strategy-neutral

FXDREAM USD/JPY

Date: Tue, 3 October 2006 13:10:01
Resistance levels: 118.00/118.40/118.75
Support levels: 117.50/117.20/116.75

USD/JPY has found Resistance at 118.00 earlier today. As long as price is below 118.00 first Resistance further downmove towards 117.20 may be seen in the next trading sessions. First Support is at 117.50. Only a breakout beyond 118.00 may resume the uptrend for retest of 118.42 yesterday top and higher towards 118.75. Stay aside for now.

Strategy-neutral.



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