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Forex Trading

DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated September 21, 2006, 7:24 am

Daily report by Fx Dream

Website: http://www.fxdream.com

Email: contact@fxdream.com

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Thu, 21 September 2006 13:10:01
Resistance levels: 1.2739/1.2758/1.2800
Support levels: 1.2675/1.2630/1.2570
EUR/USD has risen for retest of 1.2739 spike from yesteday ahead of US Leadng Indicators data later today at 14:00 GMT. A break above 1.2739 yesterday spike level may squeeze price higher for test of 1.2758 and 1.2770 later today. On the other side, strong data from USA may turn price back towards 1.2680 later today, giving scope for retest of 1.2630 bottom tomorrow. Stay aside for now.

Strategy-neutral.

FXDREAM GBP/USD

Date: Thu, 21 September 2006 13:10:01
Resistance levels: 1.9020/1.9070/1.9100
Support levels: 1.8950/1.8900/1.8860

GBP/USD has surged higher towards 1.9020 earlier today as it was suggested. The uptrend for retest of 1.9070 and 1.9140 previous highs has been resumed. Further squeeze towards 1.9020 may be seen later today, opening territory for test of 1.9070 tomorrow. On downside, first Support comes at 1.8950 ahead of 1.8900 stronger one. Look to buy downsticks towards 1.8950 for test of 1.9070 tomorrow.

Strategy-neutral.

FXDREAM USD/JPY

Date: Thu, 21 September 2006 13:10:01
Resistance levels: 117.15/117.50/117.80
Support levels: 116.50/116.00/115.60

USD/JPY has eased further down to 116.75 in the last few hours. The sentiment remains bearish for test of 116.50 in short term and 115.60 previous bootom till the end of the week. On the upside, first immediate Resistance comes at 117.15 ahead of 117.50 crucial one. a break above 117.80 is needed for resuming the uptrend towards 118.70-75 area. Trade from short side for test of 115.60 in mid-term.

Strategy-neutral.



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