Good morning. Herewith we would like to present our daily currency market overview.

EURUSD
Rise to 1,2920 we suggest using to open short positions. Destination targets for next couple of days are the levels of 1,2550 and 1,2330.

GBPUSD
The level of 1,6410/20 is a good point to go short. The target for this position we assess for 1,5870.

USDJPY
Is expected to trade in range 97,70-99,40. Upside rebound will lead to 102,20.

USDCHF
Falls to 1,1390 area should be used to open long positions with take profit order set at 1,1670/1,1790.

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