Daily Forex Forecasts 18-mar-2005 09:00GMT

Daily Forex Forecasts 18-mar-2005 08:30GMT

EUR/USD

Resistance levels:1.3390/1.3430/ 1.3455/ 1.3485
Support levels:1.3340/ 1.3325/13285

EUR/USD is trading around the lower end of the range between 1.3340 and 1.3430 for now.Ifv the crucial Support at 1.3335 holds,we may see the pair bouncing again towards 1.3390 and 1.3430.If however.it is is broken,further
fall towards 1.3300 is possible.

Holding EUR Long at 1.3360,Stop-loss-1.3330,Take profit-1.3430(1.3480)
USD/JPY

Resistance levels:104.85/ 105.25
Support levels:104.45/104.10/103.80/103.05

USD/JPY reached the upper side of the range at 104.90 and now fall again towards 104.45 and 104.20 may take place.The range between 105.25 crucial Resistance and 103.80 key Support is still valid for the pair.

Strategy-neutral.
EUR/JPY

Resistance levels:139.85-90/140.05/140.60
Support levels: 138.85-75/ 138.55/ 138.35

The Cross has formed Shoulder-head-Shoulder chart formation as expected and bounced towards 139.00 and 138.85.The pair meets minor Support at 139.50.The key Support stands at 139.75

Sell EUR at current levels,Stop-loss-139.70,Take profit-138.85
GBP/USD

Resistance level:1.9280-90/1.9300-20
Support levels:1.9180/1.9160/1.9110-00

The British pound tested 1.9260 highs yesterday and fell again below 1.9200 important level.Now the pair meets Support in the 1.9180-60 region.If it holds rise again towards 1.9260 may take place.The key Support stands at
1.9110-00.

Buy GBP at 1.9110,Stop-loss-1.9092,Take profit-1.9250