Daily Forex Forecasts 16-mar-2005 09:00GMT

Daily Forex Forecasts 16-mar-2005 08:30GMT

EUR/USD

Resistance levels:1.3365/ 1.3410/ 1.3480
Support levels: 1.3310/ 1.3280/ 1.3245

EUR/USD fell to 1.3289 yseterday.Now a consolidation back towards 1.3380-90 and even above towards 1.3410 may be seen,before the next downwave towards 1.3280 and lower towards 1.3245.The pair meets first Support at 1.3310 and key one at 1.3280.

Sell EUR at 1.3390,Stop-loss-1.3410,Take profit-1.3310(1.3285)
USD/JPY

Resistance levels:104.75-85/ 105.25/105.60
Support levels: 104.10/103.80/ 103.60 /103.05

USD/JPY rose to 104.71 yesterday and fell below 104.40 previous Support.Now further downmove is expected towards at least 104.10.The key Support stands at 103.80.In long term we prefer 103.05 and even 102.20.
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Strategy-neutral.
EUR/JPY

Resistance levels:139.85-90/140.05/140.60
Support levels: 138.85-75/ 138.55/ 138.35

The Cross fell to 138.85 yesterday.At these levels the pair ha s formed temporary bottom and now rise towards 139.85 and even 140.05 may be seen in coming trading sessions.Then new downwave towards 138.85 and lower may take place.

Sell EUR at 139.90,Stop-loss-140.10,Take profit-138.90.
GBP/USD

Resistance level:1.9220/1.9250/1.9280-90
Support levels:1.9160/1.9110-00/1.9060

GBP/USD fell as expected to 1.9070 yesterday.Now the pair meets Resistance at 1.9235.Rise above 1.9260 would be sign for further upmove towards 1.9365.The key Support stands at 1.9100.

Strategy-neutral.