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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated September 19, 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: Tue, 19 September 2006 13:10:01
Resistance levels: 1.2720/1.2758/1.2800
Support levels: 1.2650/1.2605/1.2570
EUR/USD has dipped sharply to 1.2650 immediate Support after record slump in German ZEW sentiment index earlier today. The bias remains bearish ahead of US Producer Price Index and Housing Starts at 12:30 GMT. Further fall down towards 1.2605 and even 1.2570 down target may be seen in the hours ahead of FOMC Meeting tomorrow. On the upside, first crucial Support comes at 1.2720 daily high level ahead of 1.2758 last week high. Look to sell on strong US Data for test of 1.2570.

Strategy-neutral.

FXDREAM GBP/USD

Date: Tue, 19 September 2006 13:10:01
Resistance levels: 1.8839/1.8880/1.8920
Support levels: 1.8765/1.8710/1.8660

GBP/USD has fallen down to 1.8770 earlier today following EUR/USD weakness. The sentiment remains bearish as long as price is below 1.8839 yesterday high level. Later today a break above 1.8839 may cause retest of 1.8920. In longer term, a break above 1.8920-25 area is needed for resuming the uptrend towards 1.9070 and higher. On downside, pullback back towards 1.8710 and even 1.8660 down target is not ruled out in the next couple of days after US PPI and FOMC Meeting.

Sell GBP/USD at 1.8770,Stop-loss-1.8805,Take profit-1.8715(1.8665).

FXDREAM USD/JPY

Date: Tue, 19 September 2006 13:10:01
Resistance levels: 117.75/118.25/118.70
Support levels: 117.50/117.25/116.95

USD/JPY has eased down to 117.50 during the morning European trade today. Price has turned back to 117.25-117.75 range. A break above 117.75 previous Support and immediate Resistnce now is needed for resuming the uptrend towards 118.25 and 118.70 in the next couple of days ahead and after FOMC Meeting tomorrow. On the other side, further squeeze down to 117.25 Support also is not ruled out. Look to buy on a break above 117.75 again for retest of 118.25 and 118.70.

Strategy-neutral.



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