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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated September 29, 2006, 6:21 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Fri, 29 September 2006 13:10:01
Resistance levels: 1.2735/1.2780/1.2830
Support levels: 1.2665/1.2630/1.2600
EUR/USD has dropped further down to 1.2658 after EU Data Release earlier today. Now markets are waiting for number of important data from USA-Core CPE, Personal Spending and Income numbers at 12:30 GMT and Chicago PMI few minutes later at 14:00 GMT. Core CPE has deviated unsignifficant in the previous months, so today focus will be on Personal Spending data. The bias remains bearish as long as price is below 1.2760 for test of 1.2630 crucial Support. On the upside, first Resistance comes in the 1.2730-35 area. Look to sell upsticks for test of and 1.2630 later today and 1.2570 next week.

Strategy-neutral.

FXDREAM GBP/USD

Date: Fri, 29 September 2006 13:10:01
Resistance levels: 1.8740/1.8790/1.8850
Support levels: 1.8665/1.8600

GBP/USD has fallen further down to 1.8665 Support as it was suggested in our previous report ahead of US Data Release at 12:30 GMT. The sentiment remains bearish for test of 1.8600-8595 bottom area in later today. On the other side, surprising weak data from USA may cause temporary recovery towards 1.8730-40 first Resistance area. Look to sell on recovery towards 1.8740 for test of 1.8600 later today or next week.

Strategy-neutral.

FXDREAM USD/JPY

Date: Fri, 29 September 2006 13:10:01
Resistance levels: 118.12/118.30/118.70
Support levels: 117.45/117.20/116.75

USD/JPY has risen to 118.12 earlier today. The uptrend for retest of 118.29 previous highs and 118.70 target remains intact. First immediate Suport comes in the 117.50-45 area ahead of 117.20 stronger one. Look to buy downsticks for retest of 118.29 previous high level and 118.70 later today after US data release.

Strategy-neutral.

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