BFI: Currency market commentary

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BFI: Currency market commentary

19.05.2010 10:53 Wednesday
EURUSD

This currency pair is continuing it's downward march consequently toward 1.2000 at least. Today We suggest to use any possible rebound to open shorts from f.ex. 1.2250. Moreover in case jump above 1.2300 the current sentiment shall still be kept as long as the 1.2500 is not broken.


USDCHF

Correction falls from 1.1520 shall last no longer than till 100 pips lower and the support at 1.1430 is perceived as the perfect one for opening longs. On the other hand We have to remember that falls below 1.1400 may smoothly add another 100 pips.

GBPUSD

Falls from 1.4340 meaning that this currency cross may easily peak toward 1.4250 and in case stronger pressure the support at 1.3900 is likely to be tested. On the other side breaking the resistance around 1.4360 may add 80 pips without any problem and such higher resistance shall be   the area where some shorts previously taken should be enlarged.


EURJPY

Some shorts from 112.30 and the 100 pips higher may be placed especially when this cross is still targeting toward 110.00. Only jump above 114.00 may reverse our strategy to more bullish with targets around 118.30.
  

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