Daily Forex Forecasts www.iforex.org

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

EUR/USD

Resistance levels:1.29787/1.3010/1.3030
Support levels:1.2935/1.2880/1.2843

EUR fell to 1.2920 yesteday.. Now the sentiment is neutral and there are conditions for upmove correction .If the Resistance at 1.2978 is broken,we may see further rise towards 1.3010 and 1.3030.If however the key Support at 1.2935 is broken,further downmove towards 1.2843 is possible.The key Resistance is at 1.2935.
Buy EUR at 1.2947,Stop-loss-1.2927,Take profit-1.3030


USD/JPY

Resistance levels:102.63/102.80/103.10/103.70
Support levels: 102.15/101.65

USD fell to 101.65 ,which is sign for next correction towards 102.80 If the Resistance at 102.80 is broken,we may see rise towards 103.10 and 103.70.Only rise above 103.85 however will neutralize the possibility for next fall towards 100.35
Sell USD at 102.47,Stop-loss-103.85,Take profit-100.35


EUR/JPY

Resistance levels:135.00/135.40
Support levels: 134.30/133.80/133.10

The Cross hasreached the expected levels of 133.40,which is important Support.Now the sentiment is positive and correction towards 135.00 and 135.40 is possible..
Strategy-neutral.

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