Good morning. Herewith we would like to present our foreign exchange market forecasts for today.

EURUSD
After overnight fall to 1,2510 area we expect a correction to occur. Its range we assess for 1,2670 or even 1,2750/1,2790 where we suggest opening short positions. Drop below 1,2510 would initiate further falls towards 1,2390/1,2330 area.

GBPUSD
Breach of 1,4780 will open way to 1,4950 where short positions should be opened. Destination target we set at 1,4640/1,4550.

USDJPY
Range of trading 96,80-97,50. Downside rebound will bring the rate to 95,60 area.

USDCHF
Fall to 1,1890 or even 1,1840 is expected. Over there we recommend going long with destination target set at 1,2020.

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