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

Daily Forex Forecasts 09-mar-2005 08:30GMT

EUR/USD

Resistance levels:1.3355-60/ 1.3400/ 1.3420
Support levels:1.3325/ 1.3305-00/ 1.3285

EUR/USD rose beyond the key Resistance at 1.3356 yesterday and has formed a new target-1.3420.Now the pair meets Support at 1.3225.If that Support is broken,slight downmove towards 1.3300 and even 1.3285 is possible.The
1.3285-65 Support region is expected to hold and upmove towards 1.3400 to take place.Rise above 1.3356 would be sign for direct upmove towards 1.3400-20..

Buy EUR at 1.3280,Stop-loss-1.3260,Take profit-1.3350(1.3400)
Buy EUR at 1.3360,Stop-loss-1.3340,Take profit-1.3420
USD/JPY

Resistance levels: 104.75-85/105.15/105.60
Support levels: 104.35/104.10/103.80/103.40

USD/JPY continues its unpredictable move between 104.00 and 106.00 range.Now the pair meets strong Resistance at 104.75 and may fall back towards 104.10 and 103.80.If the key Support at 103.80 is broken,we may see qiuck fall towards 103.40 with next target 102.20 in long term..

Strategy-neutral.
EUR/JPY

Resistance levels:139.90/140.50
Support levels: 139.50-40/139.00/138.55

The Cross rose above the previous key Resistance at 139.50 and now the next target is 140.00.The sentiment remains positive for the pair.The pair meets strong Support in the 139.50-40 region...

Strategy-neutral.
GBP/USD

Resistance level:1.9300/1.9350/1.9380
Support levels:1.9270/1.9210 /1.9170

GBP/USD fell as expected towards 1.9270 area and now upwave towards 1.9305 and 1.9380 may take place.Our order to buy at 1.9260 was not executed ,so we will prefer to buy GBP above the key Resistance at 1.9305.The first
Support comes at 1.9270-60 area and the final one at 1.9210-00

Buy GBP at 1.9310,Stop-loss-1.9290,Take profit-1.9380