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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated October 6, 2006, 6:34 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 6 October 2006 13:10:05
Resistance levels: 1.2718/1.2760/1.2800
Support levels: 1.2670/1.2653/1.2630
EUR/USD has eased down to 1.2667 in the minutes ahead of the key US Non-Farm Payrolls Number at 12:30 GMT. Sharp fall towards 1.2630 bottom and even 1.2605 may be seen later today on number above 130 k. On the other side, sharp rally towards 1.2760 ,giving scope for retest of 1.2829 previous top also is possible if number comes out below 100k.

Sell EUR/USD at 1.2660,Stop-loss-1.2690,Take profit-1.2605(1.2570)

FXDREAM GBP/USD

Date: Fri, 6 October 2006 13:10:05
Resistance levels: 1.8800/1.8850/1.8918
Support levels: 1.8750/1.8710/1.8680

GBP/USD has reached our first target at 1.8740 earlier today. We have released 80 pips profit over the first half of our Short GBP/USD position entered yesterday. Then price has rebounded again beyond 1.8800 supported by UK Industrial Production data as it was suggested. The rest of our Short position has been stopped at 1.8800 with small 20 pip profit. Now markets are waiting for US Jobless data in few minutes. Sharp fall towards 1.8680 and then 1.8630 bottom has equal chances with sharp rally towards 1.8900-1.8918 Resistance area on weak data from USA.

Buy GBP/USD at 1.8810,Stop-loss-1.8785,Take profit-1.8900(.1.8970)

FXDREAM USD/JPY

Date: Fri, 6 October 2006 13:10:05
Resistance levels: 118.28/118.42/118.75
Support levels: 117.50/117.20/116.90

USD/JPY has found Support at 117.50 and rebounded beyond 118.00 again in Asia. Price has remained unchanged in the hours ahead of US Jobless data at 12:30 GMT. Then sharp fall towards 117.20 and 116.90 has aqual chances with a rally towards 118.42 top, giving scope for test of 118.75.

Strategy-neutral.



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