FOREX

EUR/USD
Date: Mon, 19 March 2007 13:10:01
Resistance levels: 1.3325/1.3370/1.3480
Support levels: 1.3280/1.3250/1.3220

EUR/USD has remained quiet today on the absence of fundamental news . The bias remains positive for further squeeze higher towards 1.3370 and even 1.3400 over today and tomorrow. In longer term, first target comes at 1.3480. On downside, a break below 1.3280 low may cause further squeeze ower to 1.3250 in the next two trading sessions. The key Support is at 1.3220 . Look to buy on downsticks for test of 1.3370 and 1.3400.

Strategy-neutral.



GBP/USD
Date: Mon, 19 March 2007 13:10:01
Resistance levels: 1.9510/1.9580/1.9650
Support levels: 1.9415/1.9380/1.9340

GBP/USD has risen further beyond 1.9470 earlier today The bias remains positive for further rally towards 1.9580 over the next couple of days. First target comes at 1.9510. On downside, below 1.9410-00 area may ease price back towards 1.9380 later today. Trade from Long side for test of 1.9510 and 1.9580 over today and tomorrow.As soon as price moves to 1.9500 move stop-loss higher to entry price

Holding GBP/USD Long at 1.9450,Stop-loss-1.9415,Take profit-1.9510(1.9575)



USD/JPY
Date: Mon, 19 March 2007 13:10:01
Resistance levels: 117.80/118.20/118.50
Support levels: 116.90/116.20/115.50

USD/JPY has risen heavily to 117.63 in the last two trading sessions. The uptrend remains intact as long as price is above 116.90 first minor Support for test of 117.80 in near term and 118.50 target over today and tomorrow. On downisde, below 116.90 may turn price back towards 116.23-20 Asia lows.

Strategy-neutral.

editor: pintu lund