Daily Forex Forecasts 04-mar-2005 09:00GMT

Daily Forex Forecasts 04-mar-2005 08:30GMT

EUR/USD

Resistance levels:1.3150/1.3225/ 1.3235-40/ 1.3255
Support levels:1.3090-70/1.3030/1.3000

EUR/USD is trading in narrow range between 1.3090 Support and 1.3145-50 immediate Resistance.Markets are waiting the US Nonfarm payroll Data later today at 13:30 GMT.Price is not likely to break lower than 1.3090-70 Support area before the US numbers this afternoon.Good data for US Data are expected so we may see sharp fall towards 1.3000 and lower today.The key Support stands at 1.3030.

Sell EUR at 1.3075,Stop-loss-1.3095,Take profit-1.3000(1.2970)
USD/JPY

Resistance levels: 105.60/105.95
Support levels: 105.00/104.60/104.10/ 103.80

USD/JPY rose higher to the Resistance area around 105.50-60. The pair may meet a wall of Resistance here, as the pair may sell-off to at least the bottom of the range around 104.60 today and in the coming sessions.On the
other side.If the Resistance at 105.60 is broken,further rise towards 105.95-106.00 may take place.The key Support is at 104.60.

Strategy-neutral.
EUR/JPY

Resistance levels:138.25-30/ 138.50
Support levels: 138.00/137.35/ 137.10

The Cross rose as expexted further to 138.30 Resistance.Now the sentiment is loosing his momentum and fall again towards 137.35 may take place after the pair meets strong Resistance at 138.50.There is immediate Support at
138.00 and key one at 137.35.

Sell EUR at 138.50,Stop-loss-138.68,Take profit-137.50 .
GBP/USD

Resistance level:1.9145/1.9175/1.9225/1.9255-60
Support levels:1.9060 / 1.9005 / 1.8980

GBP/USD tested the 1.9060 area Support and may see be brief dips below the support before or after the US numbers today.We prefer breaking of the key Support later today and sharp fall towards 1.9000 and 1.8980 and in long term 1.8900.The key Support stands at 1.9055.

Sell GBP at 1.9050,Stop-loss-1.9070,Take profit-1.9000(1.8980)