Daily Forex Forecasts 27-jan-2005 09:00GMT www.iforex.org

Daily Forex Forecasts 27-jan-2005 09:00GMT

EUR/USD

Resistance levels:1.3135/ 1.3175
Support levels:1.3085/1.3056/ 1.3015/ 1.2975

EUR/USD has risen to 1.3105 yesterday as expected.Now EUR/USD is in its 5th wave and we expect further rise towards 1.3135 soon. At these levels EUR will form a top and fall towards the important Support at 1.3056 may be seen.If it is broken ,even further fall towards 1.3015 is possible.The key Support is at 1.3056
Strategy-neutral
USD/JPY

Resistance levels:103.35/ 103.66/104.50
Support levels: 102.85/ 102.46/101.80

USD/JPY has fallen yesterday to 102.74.Now the sentiment is neutral and a new impulsive wave has started towards 103.65. If the immediate Resistance at 103.65 is broken, further rise towards 104.50 is with good chances.The key Support is at 102.85.
Strategy-neutral.
EUR/JPY

Resistance levels:135.41/ 135.96/136.10
Support levels:134.00/133.72/ 133.18/ 132.93

The Cross has made the expected fall to 133.60 yesterday.Now the Cross renew its upmove towards 135.40 and then 135.96.The Key Support is at 133.72-68.
Buy EUR at 135.45,Stop-loss-133.99,Take profit-135.95
GBP/USD

Resistance level:1.8865/ 1.8926/19070
Support levels:1.8800/ 1.8767/ 1.8632

Pound has risen to 1.8864 yesterday.Now the sentiment is slightly bullish and GBP/USD is in its 5th impulsive wave.It will meet strong Resistance at 1.8865.If it holds,levels below 1.8800 would be sign for further fall towards 1.8767 and 1.8745.
Sell GBP at 1.8795,Stop-loss-1.8866,Take profit-1.8767(1.8745)