Daily Forex Forecasts 23-feb-2005 09:00GMT www.iforex.org

Daily Forex Forecasts 23-feb-2005 08:30GMT

EUR/USD

Resistance levels:1.3275/ 1.3295 /1.3310
Support levels:1.3220/ 1.3185-80 /1.3130

EUR/USD has risen to 1.3275 after break of the crucial previous Resistance at 1.3225.That was the 3th upwave and now a correction in 4th wave may take place at least towards 1.3225-20,even 1.3185-80.Then a new upmove towards 1.3275 and 1.3300 may be seen.The key Support stands at 1.3180.

Buy EUR at 1.3180,Stop-loss-1.3160,Take profit-1.3270
USD/JPY

Resistance levels: 104.80-85/105.00/ 105.65
Support levels: 104.30/ 103.80

USD/JPY has broken the immediate previous Resitance and climbed to 104.85.At these levels the pairs is finding strong Support and new downmove towards 103.80 may take place soon.The key Support stands at 103.80-70

Sell USD at current levels,Stop-loss-104.85,Take profit-103.80
EUR/JPY

Resistance levels: 138.80/ 139.70
Support levels: 138.30/ 137.80 / 137.50

The Cross rose to 138.80 after the break of the crucial previous Resistance at 138.30 These levels around 138.30 are now important Support for the pair.if it holds,a new rise towards 138.80 and 139.70 may take place.The
reversal point now is at 137.50.

Strategy-neutral.
GBP/USD

Resistance level: 1.9080/ 1.9130 / 1.9190
Support levels: 1.8975/1.8860

The Pound rose to 1.9125 ,where it found strong Resistance and now the pair is in consolidation again towards 1.8980-75.If the crucial Support at 1.8975 is broken,further fall towards 1.8860 may be seen.The key Support
stands at 1.8970.

Strategy-neutral