Daily Forex Forecasts 21-mar-2005 09:00GMT

Daily Forex Forecasts 21-mar-2005 08:30GMT

EUR/USD

Resistance levels:1.3285/ 1.3335/ 1.3385
Support levels: 1.3220-05/1.3170/1.3100

EUR/USD fell below 1.3250 and now test of 1.3220-05 is expected ,before the corrective upwave towards 1.3335.There is strong Support at 1.3205 and another one at 1.3170.IF Supports are broken,further fall 1.3100 is possible.

Buy EUR at 1.3210.Stop-loss-1.3195,Take profit-1.3285(.13330)
USD/JPY

Resistance levels:105.25-35/105.60
Support levels:104.45/104.10/103.80

USD/JPY knocking on the upper end of the trading range of 103.80 and 105.25-35.We prefer the strong Resistance to hold and fall again towards 104.45 and then 103.80 to take place.The key Support stands at 103.80.

Sell USD at 105.30,Stop-loss-105.50,Take profit-104.50(104.10)
EUR/JPY

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

The Cross fell below 138.80 as expected.Our Short position was executed at 138.85.At these levels the [air may find strong Support and rise again towards 139.80 and even 140.05 may be seen ,before the next downmove towrads 138.85 and below.The key Support stands at 138.75

Strategy-neutral.
GBP/USD

Resistance level:1.9125/ 1.9185
Support levels:1.9050/1.9030/ 1.9015

GBP/USD fell below the previous strong Support at 1.9100 and reached levels below 1.9070.Now the pair meets first Support at 1.9050 and stronger one at 1.9030.Temporary rise from 1.9050 may take place,but the it would be
limited from 1.9125 strong Resistance.

Buy GBP at 1.9030,Stop-loss-1.9010,Take profit-1.9110