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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated September 14, 2006, 6:30 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 14 September 2006 13:10:01
Resistance levels: 1.2735/1.2780/1.2800
Support levels: 1.2665/1.2640/1.2570
EUR/USD has risen to 1.2725 after London Opening today, but still trading in the 1.2665-1.2740 range. Test of 1.2735-40 first Resistance area may be seen in the minutes ahead of US Retail Sales data at 12;30 GMT. Strong data from USA may turn price back towards 1.2670-65 Support area later today. On the other side, weak Retail Sales may send price higher towards 1.2780-1.2800 region later today and 1.2835 tomorrow. In longer term, a break below 1.2665 and 1.2640 Friday low is needed for further downmove to 1.2570-60 area. Look to sell on upsticks towards 1.2735 on strong data from USA for retest of 1.2665 Support and lower to 1.2640 later today.

Strategy-neutral.

FXDREAM GBP/USD

Date: Thu, 14 September 2006 13:10:01
Resistance levels: 1.8900/1.8950/1.9020
Support levels: 1.8810/1.8775/1.8710

GBP/USD has surged sharply beyond our 1.8860 target earlier today supported by 0.3% increase in UK Retail Sales. Now markets are waiting for US Retail Sales Numbers at 12:30 GMT. Further impact for rally towards 1.8950 is not ruled out later today on negative data from USA. First Resistance is at 1.8900. On the other side, stronger than expected data may cause correction down to 1.8810 and even 1.8780 later today.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 14 September 2006 13:10:01
Resistance levels: 118.15/118.70
Support levels: 117.35/116.95/116.50

USD/JPY has found Resistance at 117.80 earlier today retesting 117.40 proven Support once again. If it holds, later today another test of 118.15 and higher towards 118.70 in mid-term may be seen. On the other side, a break below may turn price back towards 116.95 key one. Look to buy downsticks towards 117.40 for test of 118.70 in the next trading sessions.

Holding USD/JPY Long at 117.60,Stop-loss-117.25,Take profit-118.15(118.65)



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