Daily Forex Forecasts 26-jan-2005 09:00GMT www.iforex.org

Daily Forex Forecasts 26-jan-2005 09:00GMT

EUR/USD

Resistance levels:1.3000/ 1.3050/1.3069/1.3100
Support levels:1.2964/1.2950/1.2925/ 1.2887

The EUR has fallen to 1.2942 yesterday after break of the key Support at 1.3015-00.Now the EUR/USD made a bottom at 1.2964,but only levels above 1.3000 can neutralize the pressure and then we may see rise again towards 1.3050 and 1.3070.If ,however , the Support at 1.2964 is broken,further fall towards 1.2925 and 1.2887 is expected.The key Support is at 1.2964.
Strategy-neutral
USD/JPY

Resistance levels:103.65/ 104.15/ 104.30/104.50
Support levels: 103.25/ 102.80/102.25/101.80

The USd/JPY has risen to 104.36 yesteday.Now the sentiment is negative and the following fall meet Support at 103.25.There are significant chances of break at the important Support at 103.25 and we may see further downmove towards 102.80 today.Only levels above 103.65 would unlock further rise towards 104.15 and 104.30.
Strategy-neutral.
EUR/JPY

Resistance levels:134.90/ 135.40/ 135.95/136.45
Support levels:133.72/ 133.15/ 133.00

The Cross met Resistance at 135.30 yesterday.Now the sentiment is negative for the Cross and levels below 134.80 accelerates the possibility for further downmove towards 134.68 and then 133.00.The key Support is at 133.72-68
Strategy-neutral
GBP/USD

Resistance level:1.8700-05/ 1.8776/1.8850
Support levels:1.8665/ 1.8625/1.8540

GBP has fallen to 1.8624 yesterday.Now the sentiment is neutral.The following rise will meet Resistance at 1.8705. If it is broken, we may see further upmove towards the price channel at 1.8775.The immediate Support is at 1.8665.The downside looks more probably than upside and we may see fall towards 1.8525 and then 1.8525
Strategy -neutral