Daily Forex Forecasts 10-mar-2005 09:00GMT

Daily Forex Forecasts 10-mar-2005 08:30GMT

EUR/USD

Resistance levels:1.3475/ 1.3490/ 1.3515
Support levels:1.3400/ 1.3375/ 1.3330

EUR/USD has breken the crucial previous Resistance level and rose directly to 1.3454 overnight,as part of 5th wave from 1.3180 upmove.Now the sentiment remains bullish.The pair meets Support at 1.3400 and then 1.3375.Slight consolidation is possible now before the final upmove towards 1.3475..

Buy EUR at 1.3380,Stop-loss-1.3360,Take profit-1.3455(1.3475)
USD/JPY

Resistance levels: 104.45/ 104.90/ 105.30
Support levels: 103.80/ 103.60 /103.05/102.85/102.20

USD/JPY fell to the key Support at 103.75 overnight and bounced again above 104.00.Now the sentiment remains negative for the pair and new test of these lows is expected soon.The next target comes at 103.05 and then
103.85.In long term 102.20 is the new aim.

Sell USD at 104.25,Stop-loss-103.45,Take profit-103.75(103.05)
EUR/JPY

Resistance levels:139.90 / 140.20
Support levels: 139.50/139.20/ 138.75

The Cross has broken the 139.20 level ano rose again towards previous highs around 139.90.The sentiment remains positive for the pair and soon new test of these highs is possible.If the Resistance at 139.90 is broken,price may
reach levels above 140.20.The Cross meets first Support at 139.50...

Strategy-neutral.
GBP/USD

Resistance level:1.9280-90/1.9315-20/1.9380
Support levels:1.9260/1.9200/1.9180

GBP/USD rose to the crucial Resistance at 1.9290 as expected.Our Take profit order was execetuted at 1.9280,so we exited with small profit from 55 pips.Now the pair meets Support at 1.9260 and then rise towards 1.9380 is not ruled out for next couples of days.

Strategy-neutral.