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Waluty: Currency market commentary

03.03.2010 10:12 ¶roda
EURUSD
This pair is currently in a corrective rebound from 1.3430 which may reach even 1.3640 where some shorts shall be considered. On the other hand we have to remember about 30 pips of stop loss order as firmly breaking resistance at 1.3670 may easily set again resistance 70 pips higher as a new target. However the current downward movement may lead as toward support at 1.3450/70.

USDCHF
Opening longs from 1.0725 would be quite profitable as long as the significant support 40 pips lower is not tested. Moreover smoothly breaking resistance at 1.0760 shall extend jump toward 1.0840 but with the first pause at 1.0790. On the other hand the support around 1.0600 shall be reasonable only in case falls below 1.0690.

GBPUSD
Due to a corrective rebound from 1.4780 toward 1.5070 our recommendation perceives another test   the resistance at 1.5060 where some shorts shall be placed.
Moreover any stronger jump may drive this pair up to 1.5170 in consequence.

EURJPY
This current corrective rebound should lead us toward 121.10 where some speculative short positions shall be opened with a targets around 120.20 area. On the other hand in case rebound above 121.30 another  50 pips should not be a problem with a targets at 122.40 in a longer perspective.

For more comments and recommendations please visit our website www.bavariafund.com

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