Free Forex Trading Tips

EUR/USD
Date: Fri, 1 February 2008 13:10:05
Resistance levels: 1.4900/1.4920/1.4965
Support levels: 1.4800/1.4750/1.4700

EUR/USD has risen to 1.4900 first Resistance earlier today Today all eyes will be on US Non Farm Payrolls numbers at 13:30 GMT The consensus is at 65 K The break beyond 1.4780 signals for retest of 1.4965 record highs at least over the next trading sessions and even 1.50 psychological level if the number comes out at 20 K or more negative On downside, if the number comes out at 130 K or higher may turn price back directly towards 1.4780-50 region later today First Support comes near 1.4800 daily lows Look to buy again on pullback for test higher towards 1.4920 and even 1.4965

Buy EUR/USD at 1.4900,Stop-loss-1.4860, Take profit-1.4960( 1.5010)

GBP/USD
Date: Fri, 1 February 2008 13:10:04
Resistance levels: 1.9900/2.0020/2.0150
Support levels: 1.9820/1.9800/1.9730

GBP/USD still trading in wide range over the last trading sessions No change in our view The break above 1.9790 previous important levels recovers price beyond 1.9900 and opens territory for test of the target at 2.0020 later today on weak US data The longer term target is around 2.0150 On downside, below 1.9730 Support eases price back to 1.9600 bottom in mid term In short term, a break below 1.9825-20 lows area may cause sharp fall to 1.9730 later today.

Strategy-neutral.

USD/JPY
Date: Fri, 1 February 2008 13:10:03
Resistance levels: 107.00/107.50/107.90
Support levels: 106.00/105.00/104.20

USD/JPY has traded flat over the last trading session No change in our view. The bias remains bearish for further downmove below 106.00 and even towards 104.20 in longer term as long as price remains below 107.90 key level First Support comes near 106.00 ahead 105.00 stronger one Disapointing data from USA later today may cause sharp fall towards 105.00 over the next trading sessions On the upside, a break above 107.90 again signals for reversal in the bias and test of 108.50 and 110.10 in longer term First Resistance comes near 107.00 ahead of 107.50 yesterday highs Stronger than expected Jobless data from USA may boost price heavily towards 107.50 and 107.90 after the event

Buy USD/JPY at 106.85, Stop-loss-106.45, Take profit-107.45( 107.85)