Daily Forex Forecasts 25-feb-2005 09:00GMT www.iforex.org

Daily Forex Forecasts 25-feb-2005 08:30GMT


EUR/USD

Resistance levels:1.3235/ 1.3250/ 1.3265
Support levels:1.3180-70/ 1.3140

EUR/USD fell as expected to important Support at 1.3175 yesterday.Now a new impulsive wave is expected toowards 1.3245-50 and even 1.3265.The key Support stands at 1.3175.If it is broken,further downmove towards 1.3145-40 may take place before the upmove towards 1.3250.

Holding EUR Long at 1.3180,Stop-loss-1.3170,Take profit-1.3245(1.3265)

USD/JPY

Resistance levels: 105.25/105.60/ 105.95
Support levels: 104.80/ 104.30 / 103.80

USD/JPY rose to 105.60 where the pair found Resistance.The Japanese Yen has formed double top and now fall again towards 104.80 and 104.50.The key Resistance is at 105.60.

Sell USD at current levels,Stop-loss-105.25,Take profit-104.50(103.80)


EUR/JPY

Resistance levels: 139.35/139.90-140.00
Support levels: 138.40/137.80-70

The Cross rose to 139.35 yesterday.At these levels the pair has formed top and now correction towards 137.80,even 137.10 may take place before the next upwave towards 140.00.EUR/JPY meets first Support at 138.40.The key
one is at 137.80-70

Strategy-neutral.

GBP/USD

Resistance level: 1.9130 / 1.9190
Support levels: 1.9080/1.9040/1.9000-8990/1.8860

The Pound has formed tripple top at 1.9125.Now fall again towards 1.9000 is possible if the important Support at 1.9040 is broken.The negative sentiment may then continue even with further downmove towards 1.8860 in
next days.The key Support stands at 1.9045-40.

Straetegy-neutral