Daily Forex Forecasts 28-feb-2005 09:00GMT www.iforex.org

Daily Forex Forecasts 28-feb-2005 08:30GMT

EUR/USD

Resistance levels:1.3285/ 1.3310-15
Support levels:1.3245-40/ 1.3215/ 1.3195

EUR/USD rose to 1.3281,where the construction has formed negative divergence.The pair meets strong Resistance at 1.3310 Fall below 1.3240 important Support would be sign for further downmove towards 1.3215 and 1.3195-90.The key Support at 1.3190 is expected to hold and new upwave
towards 1.3300 to take place.

Buy EUR at 1.3195,Stop-loss-1.3175,Take profit-1.3275(1.3300)
USD/JPY

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

USD/JPY fell below the importrant previous Support at 104.80.Now the pair meets first Support at 104.30-25.IF it is broken,the next targets are 103.80 and 103.50 Then a corection again towards 104.80 and above may be
seen.The key Support stands at 103.80

Strategy-neutral.
EUR/JPY

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

The Cross fell towards 138.40 crucial Support after new highs acheavement at 139.40 Now the sentiment is negative for the pair.If the important Support at 138.40 is broken,further downmove towards 137.80 and even 137.50
may take place.The reversal point remains 137.50.

Sell EUR at 138.38,Stop-loss-138.55,Take profit-137.80(137.50)
GBP/USD

Resistance level: 1.9235 / 1.9260
Support levels: 1.9190 / 1.9160/1.9080/1.9040

GBP/USD rose above 1.9200 to 1.9235 important Resistance after break of the crucial previous Resistance at 1.9190.Now if the crucial Resistance at 1.9235 holds,consolidation towards 1.9160,even 1.9080 may take place.The key Support stays at 1.9040.

Straetegy-neutral