Good morning. With great pleasure we would like to present our currency market info for today.

EURUSD
As on Friday we suggest staying extremely cautious due to possibility of a strong downward correction of the recent gains. From above the pair is limited by 1,4000 and unless an upward rebound is confirmed by exceeding 1,4040 falls are expected. Current trading range we would assess for 1,3850-1,4000. Rise above 1,4040 should reach 1,4110. Below 1,3850 the next significant support level is seen at 1,3720.

GBPUSD
Trading range seen between 1,6440-1,6290. Drop below the lower limit will initiate further falls towards 1,6170.

USDCHF
Drop to the area of 1,0760 should be used to open long positions  with destination target set at 1,0920 or even 1,0990. Only fall below 1,0720 will invalidate this scenario.

EURJPY
Rise to the level of 135,60 and afterwards falls towards 134,40 and 133,60 later on.

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