| DAILY DAILY FX FORECASTS BY FX DREAM |
FXDREAM EUR/USD
Date: Mon, 31 July 2006 13:10:01
Resistance levels: 1.2772/1.2825/1.2860
Support levels: 1.2740/1.2710/1.2660
EUR/USD has broken 1.2770-72 first Resistance and previous highs as it was suggested in our previous report. No important fundamental news today. The sentiment remains positive and a break above 1.2770-72 later today may lead price higher towards 1.2825 and 1.2860. On downside, first crucial Support comes in the 1.2740-35 region ahead of 1.2660 key one. Look to buy on breakout above 1.2770 for test of 1.2825 and 1.2860 or buy downsticks towards 1.2710 for retest of 1.2770 and higher towards 1.2825. As soon as price touches 1.2812 move stop-loss higher to entry price.
Holding EUR/USD Long at 1.2772,Stop-loss-1.2737,Take profit-1.2825(1.2855)
FXDREAM GBP/USD
Date: Mon, 31 July 2006 13:10:01
Resistance levels: 1.8675/1.8735/1.8760
Support levels: 1.8610/1.8550/1.8520
GBP/USD has remained unchanged in the early morning European trade unable to rise above 1.8675 previous highs. The bias remains bullish for test of 1.8735 or even 1.8760 later today. A break above 1.8672-78 region will be sign for such a scenario. On downside, first immediate Support lies in the 1.8610-00 area ahead of 1.8550-40 key one. Look to buy on a break above 1.8675 for test of 1.8735 and 1.8760 later today. In longer term, 1.8850 target may be set for the current week.We have released 90 pip profit on our hedged USD/CHF entered at 1.2390
Strategy-neutral.
FXDREAM USD/JPY
Date: Mon, 31 July 2006 13:10:01
Resistance levels: 114.90/115.30/116.00
Support levels: 114.10/113.90/113.40
USD/JPY has eased further for test of 113.90 crucial Support later today. First immediate Support comes at 114.10. In longer term, 113.40 previous lows may be tested later this week. First strong Resistance lies in the 114.80-90 region. Look to sell on a break below 114.10 for test of 113.40.
Strategy-neutral.
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