Prediction Forex Today Wednesday March 4, 2009

Wednesday March 4, 2009

EUR-USD
Downtrend is still intact.It should continue to fall to 1.2541 or 1.2496 if resistance at 1.2586 area doesnt break . Direct rise above 1.2586 could turn the picture bullish for a corrective up move to 1.2619 or even 1.2652 limit .

USD-CHF
It should trade lower to 1.1697. Resistances are at 1.1773 and 1.1802. A break of 1.1800 is bullish.

USD-JPY
A corrective/consolidation activity between 97.25 and 99.51 is likely for a while.

GBP-USD
Current fall is near an end of wave around 1.3909 - 1.401 zone, a rally should then procede to above 1.4104 or 1.4144. Fall below 1.3889 would cancel this scenario.

Forex Prediction for Tuesday March 3, 2009

EUR-USD
It may meet resistance in 1.2577 - 1.2585 zone for a drift down to 1.2553 zone, after which bounce to 1.2605 is anticipated.

USD-CHF
One move lower to 1.1707 or 1.1659 is anticipated while below 1.1776 - 1.18 area. Stop loss above 1.1845 zone.

USD-JPY
Market should hold major support at 96.6 before rising towards 97.94 or even 98.43 limit.

GBP-USD
It is likely to attempt nearer support at 1.3912 for extending further to below 1.3769 while below 1.4055 - 1.4172 area. Rise above 1.4243 would dampen this bearish expectation.