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Article
BFI: Currency market commentary
30.12.2009 10:37 WednesdayEURUSD
As the dollar's rally is getting strengthen again our daily prognosis perceives that in the nearest few hours there is likelihood of falls down to 1.4300/10 so some shorts from spot should be opened. However, in case breaking 1.4390 this pair shall be halted not earlier than 40 pips higher. On the other hand , significantly breaking resistance at 1.4440 may easily open a way toward 1.4510 and even 50 pips in few days.
USDCHF
As the local resistance at 1.0330 was firmly broken , the current return of this currency rate may be easily targeted at 1.0490 but 1.0410 at least. Only firm come back below 1.0330 may canceled scenario above mentioned and open targets between bands at 1.0280 and 1.0240.
GBPUSD
So as the market drove this pair firmly below 1.5900 the new supports at 1.5800 and more important at 1.5700 should be refreshed.
On the other hand in case quick rebound above 1.6000 targets around 1.6160 and 80 pips higher also, are opened . So taking into account current quite strong downward movement we suggest to wait with some shorts till 1.5910 but with no more than 30 pips of stop loss order.
USDJPY
The quite interesting situation is currently created on this currency pair as dollar refreshed it's rally. However in the medium future opening longs appeals as a better idea especially from 92.00 . Slides below 91.90 may smoothly add consecutive 60 pips.
For more comments and recommendations please visit our website www.bavariafund.com
as
As the dollar's rally is getting strengthen again our daily prognosis perceives that in the nearest few hours there is likelihood of falls down to 1.4300/10 so some shorts from spot should be opened. However, in case breaking 1.4390 this pair shall be halted not earlier than 40 pips higher. On the other hand , significantly breaking resistance at 1.4440 may easily open a way toward 1.4510 and even 50 pips in few days.
USDCHF
As the local resistance at 1.0330 was firmly broken , the current return of this currency rate may be easily targeted at 1.0490 but 1.0410 at least. Only firm come back below 1.0330 may canceled scenario above mentioned and open targets between bands at 1.0280 and 1.0240.
GBPUSD
So as the market drove this pair firmly below 1.5900 the new supports at 1.5800 and more important at 1.5700 should be refreshed.
On the other hand in case quick rebound above 1.6000 targets around 1.6160 and 80 pips higher also, are opened . So taking into account current quite strong downward movement we suggest to wait with some shorts till 1.5910 but with no more than 30 pips of stop loss order.
USDJPY
The quite interesting situation is currently created on this currency pair as dollar refreshed it's rally. However in the medium future opening longs appeals as a better idea especially from 92.00 . Slides below 91.90 may smoothly add consecutive 60 pips.
For more comments and recommendations please visit our website www.bavariafund.com
as


