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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated September 4, 2006, 7:06 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Mon, 4 September 2006 13:10:01
Resistance levels: 1.2880/1.2940/1.2980
Support levels: 1.2825/1.2780/1.2750
EUR/USD has remained ranged earlier today as it was suggested. Today market in USA is closed for holiday, that means small volume and range trade is likely to be seen. The bias is slightly positive for the pair and a break above 1.2878 is likely to send price for retest of 1.2940 previous high and 1.2980 later this week. On downside first Support is lying in the 1.2825-15 area. Look to buy dips for test of 1.2940.

Strategy-neutral.

FXDREAM GBP/USD

Date: Mon, 4 September 2006 13:10:01
Resistance levels: 1.9090/1.9145/1.9180
Support levels: 1.9020/1.8960/1.8900

GBP/USD has fallen down to 1.9033 earlier today after quiet trade. With US Markets closed today range trade between 1.9090 and 1.9020-10 first Support area is likely to be seen in the next two trading sessions. In mid-term the sentiment remains positive for retest of 1.9145 and 1.9180 later this week. For now we prefer to stay aside.

Strategy-neutral.

FXDREAM USD/JPY

Date: Mon, 4 September 2006 13:10:01
Resistance levels: 116.50/117.00/117.50
Support levels: 116.00/115.70/115.30

USD/JPY has eased further down to 116.00 during the early morning European trade. The sentiment remains negative for further downmove down towards 115.30 ahead of Bank of Japan Meeting on Wednesday. Pullback up towards 116.50 first Resistance also is not ruled later today, before the next downmove towards 115.30. On the upside. a break above 117.00 first Resistance is needed the uptrend to resume towards 117.50 and 117.85 previous high.

Strategy-neutral.

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