Daily Forex Forecasts 01-mar-2005 09:00GMT

Daily Forex Forecasts 01-mar-2005 08:30GMTEUR/USDResistance levels:1.3225/ 1.3235-40/ 1.3255Support levels: 1.3170/ 1.3140/1.3115EUR/USD has fall as expected towards 1.3170.In short term the Euro meets temporary Support at 1.3170.Slight rise towards 1.3215 and 1.3225 is possible,before the next downwave towards 1.3115 take place.The key Support is at 1.3170.Sell EUR/USD at 1.3170,Stop-loss-1.3190,Take profit-1.3115.USD/JPYResistance levels: 105.05/ 105.30/105.60Support levels: 104.30 / 103.80The pair fell to 104.10 yesterday.At these levels USD/JPY has formed "advanced block" and rose again towards 105.00.USD/JPY is expected to meet strong Resistance at 105.05 and then fall again towards 104.10,even 103.80may be seen.The key Support stays at 103.80.Sell USD at 105.05,Stop-loss-105.25,Take profit-104.10(103.80)EUR/JPYResistance levels: 138.90/139.35-40/ 140.00Support levels: 137.80/ 137.10The Cross fell below our target at 137.80 as expected.Now slight upmove towards 138.40 Resistance is possible ,before the next downwave towards 137.80 again and even 137.10 take place.The key Support is at 137.80.Strategy-neutral.GBP/USDResistance level:1.9205/1.9255-60 / 1.9300-9310Support levels: 1.9160 / 1.9135The Pound fell beyond the crucial previous Support at 1.9200 Now the sentiment is neutral until the Data from UK be released later today.There is strong Support at 1.9135-30.If it is broken,further downmove towards1.9050 is expected.On the other side ,rise towards the important Resistance at 1.9255 is likely today.The key Support stands at 1.9130.Sell GBP at current levels,Stop-loss-1.9200,Take profit-1.9130(1.9080)