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Waluty: Currency market commentary

22.06.2009 10:29 poniedziałek
EURUSD
Today's trading range we would assess for 1,3840-1,3940. As on Friday long positions are recommended. In case of a rise above 1,3940 further gains towards 1,3990. Above 1,4020 acceleration to 1,4090. Drop below 1,3820 is likely to bring this pair to the area of 1,3710/20 within the week. This week FED's decision on interest rates will be decisive.

GBPUSD
Unless the pair falls below 1,6300 another attack on 1,6610 is expected, so we treat the mentioned level as a good place to open long positions. We suggest reducing this position at 1,6410. Otherwise, expected range of drop below 1,6300 we assess for 1,6110 within the week.

USDCHF
Fall to the level of 1,0780 should be used to open long positions. Destination target 1,0820 and 1,0880 later on.

EURJPY
The first reasonable level to go long we assess for 131,00 with destination target set at 132,50.
In case of a fall below 131,00 downside pressure may bring this pair even as low 128,30 which level would be proper for long mid-term positions.

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

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