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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated October 30, 2006, 7:47 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 30 October 2006 13:10:01
Resistance levels: 1.2745/1.2800/1.2830
Support levels: 1.2700/1.2660/1.2625
EUR/USD has remained ranged earlier today as price has found Resistance at 1.2747 on Friday as US GDP Number came out at 1.6%( below market expactation at 2.2%). The bias remains positive for test of 1.2760 and 1.2830 previous top in mid-term. On downside, a break below 1.2700 first immediate Support may turn price back to 1.2660 strong Support on profit taking. US Consumer Spending number came out at 0.1% few minutes ago, the smallest number in 10 months. Look to buy on pullback for test of 1.2760 and 1.2830.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 30 October 2006 13:10:01
Resistance levels: 1.9040/1.9075/1.9140
Support levels: 1.8960/1.8900/1.8860

GBP/USD has risen beyond 1.9000 on Friday as it was suggested. We have booked small 60 pips profit for our first part of the Long GBP/USD position entered at 1.8900. Eralier today further rally beyond our target at 1.9020 has been seen after US Consumer Spending data. We have released 120 pips profit over our second part of the Long position. The bias remains positive for the pair for test of 1.9075 previous top in near term.. On downside, first important Support comes at 1.8960 ahead of 1.8900. Look to buy again on pullback towards 1.8960 for test of 1.9075 and even higher towards 1.9140.

Strategy-neutral.

FXDREAM USD/JPY

Date: Mon, 30 October 2006 13:10:01
Resistance levels: 117.60/118.00/118.40
Support levels: 117.15/117.00/116.65

USD/JPY has fallen sharply down to 117.14 after US Data Release on Friday. The bias remains bearish for test of 116.70-65 area region in near term on a break below 117.14. On the upside, first minor Resistance comes at 117.60 ahead of 118.00 stronger one. Look to sell on rebound towards 117.70 and 118.00 for test of 116.70.

Strategy-neutral.

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