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DAILY DAILY FX FORECASTS BY FX DREAM

*Last Updated September 5, 2006, 6:56 am

Daily report by Fx Dream

DAILY FX FORECASTS

FXDREAM EUR/USD

Date: Tue, 5 September 2006 13:10:01
Resistance levels: 1.2880/1.2940/1.2980
Support levels: 1.2800/1.2780/1.2750
EUR/USD has fallen further down to 1.2806 earlier today despite better than expected Euro Zone Retail Sales data. No important fundamental news from USA today. The pair is trading near 1.2800-2780 Support area ahead of 1.2753 Friday low and down limit of the 1.2755-1.2878 range. The bias remains slightly positive for the pair in longer term for a break above 1.2878 previous high and Resistance needed for further rally towards 1.2940. Stay cautious Long or buy on dips towards 1.2755 for retest of 1.2878 previous high and further towards 1.2940.

Holding EUR.USD Long at 1.2835,Stop-loss-1.2800,Take profit-1.2880(1.2935)

FXDREAM GBP/USD

Date: Tue, 5 September 2006 13:10:01
Resistance levels: 1.9035/1.9090/1.9145
Support levels: 1.8955/1.8900/1.8850

GBP/USD has eased down towards 1.8960-55 crucial Support during the morning European trade today. In short term, the bias is negative as long as price is below 1.9025-35 first Resistance area. On downside, a break below 1.8955 Friday low may send price lower down towards 1.8910-00 area later today. In longer term, the sentiment remains positive for retest of 1.9145 and 1.9180.

Strategy-neutral.

FXDREAM USD/JPY

Date: Tue, 5 September 2006 13:10:01
Resistance levels: 116.20/116.50/117.00
Support levels: 115.55/115.30/115.00

USD/JPY has recovered up to 116.00 in the last few hours earlier today. The bias remains negative ahead of Bank of Japan Meeting tomorrow with first Resistance at 116.20-25. Further downmove down to 115.30 key Support is likely to be seen later today. On the upside, a break above 116.50 first crucial Resistance is needed the uptrend to resume towards 117.50 and 117.85 previous high.

Strategy-neutral.

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