Daily Forex Forecasts 14-mar-2005 09:00GMT

Daily Forex Forecasts 14-mar-2005 08:30GMT

EUR/USD

Resistance levels: 1.3455/ 1.3490/ 1.3515
Support levels: 1.3390/ 1.3355/1.3330

EUR/USD has formed top at 1.3480 highs on Friday.Now the pair meets Support in the 1.33390-70 region.If the Support holds,new final upwave towards 1,3455 may be seen,before the sizable correction towards 1.3330 and 1.3280-70 in next days.The key Support is at 1.3370.

Sell EUR at 1.3370,Stop-loss-1.3390,Take profit-1.3285
USD/JPY

Resistance levels: 104.45/ 104.90/ 105.25
Support levels: 104.45/103.80/ 103.60 /103.05

USD/JPY broke the crucial previous Resistance at 104.45 earlier this morning.The pair now meets strong Resistance at 104.85-90 and then 105.25-30.The key Support remains at 103.80.
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Sell USD at 105.25,Stop-loss-105.45,Take profit-104.10.
EUR/JPY

Resistance levels:140.55-60/141.00
Support levels: 139.90 /139.50/139.20/ 138.75

The Cross rose above 140.00 psychological levels as we expected in our Friday evening Report and reached 140.60 highs.Now the pair meets crucial Support at 140.00-139.90 area and new test of 140.60 highs is not ruled out in short term.The key Support stands at 139.50.

Buy EUR at 139.90,Stop-loss-139.70,Take profit-140.55
GBP/USD

Resistance level:1.9280-90 /1.9315-20/1.9380
Support levels:1.9180/1.9140/1.9060

GBP/USD fell below the psychological 1.9200 level and now further fall towards 1.9140 crucial Support may be seen.If it is broken,further downmove even towards 1.9080-60 may take place in coming sessions,before the next upwave towards 1.9280-90 highs again.

Strategy-neutral.