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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated September 1, 2006, 8:30 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 1 September 2006 13:10:01
Resistance levels: 1.2825/1.2885/1.2940
Support levels: 1.2780/1.2750/1.2725
EUR/USD has remained ranged in the last hours as it was suggested as EU Unemployment Rate and EU GDP has come with the expecation figures. Today focus will be on US Non Farm Payrolls key Numbers later today at 12:30 GMT. Number above 150k is likely to strengthen USD for retest of 1.2740-25 Support region at least and even sharp fall down to 1.2700-2695. On the other side, numbers below 100 k may boost EUR/USD for test of 1.2900-05 and 1.2940 previous high later today. Sell at current price few minutes before the event with tight stop-loss order.

Sell EUR/USD at 1.2815,Stop-loss-1.2840,Take profit-1.2750(1.2725)

FXDREAM GBP/USD

Date: Fri, 1 September 2006 13:10:01
Resistance levels: 1.9090/1.9145/1.9180
Support levels: 1.9000/1.8970/1.8900

GBP/USD has remained quiet earlier today as markets are waiting for key US Jobless Data later today at 12:30 GMT. After the event at 12:30 GMT sharp rally for retest of 1.9140-45 previous highs at least has the equal chances with sharp retrace down to 1.8900 and then 1.8850 Support. Look to buy on a break above 1.9065 for retest of 1.9145 previous high. Hedge the position with Long USD/CHF .

Buy GBP/USD at 1.9065,Stop-loss-1.9030,Take profit-1.9145(1.9180)

FXDREAM USD/JPY

Date: Fri, 1 September 2006 13:10:01
Resistance levels: 117.50/117.85/118.15
Support levels: 116.75/116.50/116.10

USD/JPY has remained ranged between 117.00-117.50 area in the last two trading sessions. The next direction will depends on US Non Farm Payrolls key Numbers in few minutes. With consensus about 130k , number of 150k and beyond is likely to boost price sharply to new highs towards 118.00-15 area later today. On the other side, if the number comes less than 100k USD/JPY is likely to turn back towards 116.50 at least and even further down to 116.15.

Strategy-neutral.

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